3 days Ago By Dominic Giannini
Prime Minister Anthony Albanese has concluded his latest round of world leader speed dating at a major economic forum with a spotlight on trade and climate. Mr Albanese met with Chinese President Xi Jinping and UK Prime Minister Keir Starmer on the sidelines of the G20 summit in Brazil. The summit is occurring against the backdrop of incoming US president Donald Trump's looming trade tariffs and threats to pull out of major international climate commitments, worrying world leaders.
Tariffs would impact the Australian economy and there are concerns about flow-on effects for global inflation, which could be factored into the Reserve Bank's determination of when to cut interest rates. "My government is working at home with international partners ..
. to boost economic resilience and ensure that Australia's economy is well placed to face global economic challenges," Mr Albanese said on Tuesday (AEDT). "One in four of Australian jobs is trade dependent and therefore our engagement here has been very much focused on what is in Australia's national interest.
" The G20 includes some 85 per cent of global GDP, 75 per cent of international trade and 80 per cent of the world's population. Mr Albanese denied discussing Mr Trump directly in the two meetings. "Not in the formal meeting .
.. informally, I have chats to people all the time," Mr Albanese said when pressed on his engagements with Sir Keir.
People spoke about pertinent political issues on the sidelines of major conferences, the prime minister said. "It would be disingenuous to suggest that hadn't occurred right across the board, I would have thought, between world leaders this week," he said. The pair discussed progressing the AUKUS pact alongside the United States under which Australia will receive nuclear-powered submarines.
The three AUKUS partners signed an agreement to enhance hypersonic technology testing. It builds on a $US250 million ($A385 million) commitment for up to six test flights by 2028. Mr Albanese attended a sideline meeting with the leaders of Turkey, Mexico, Indonesia and South Korea before a bilateral with Turkish President Recep Erdogan.
He also discussed investment opportunities in Europe and support for Ukraine against Russia's invasion with European Commission president Ursula von der Leyen. Informal meetings and pull asides were held with a host of other leaders, including French President Emmanuel Macron and Spanish leader Pedro Sanchez..
