Global Resources Strategy

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Global demand for resources and energy commodities is expected to recover from the economic impacts of the COVID‑19 pandemic, and even expand.

To support this, the government is developing a Global Resources Strategy to diversify and strengthen Australia’s export markets.

We are also investing in improving access to new markets through promotion of Australia’s resources and increased engagement with our trading partners.

The strategy is part of a whole-of-government effort to build Australia’s resilience to trade shocks such as the COVID-19 global pandemic. It includes a series of measures to build export markets and develop new partnerships.  This Global Resources Statement, the first of these measures, sets out Australia’s resources landscape.

The strategy will strengthen Australia’s relationship with regional partners by:

  • promoting our resources sector as a reliable supplier of energy resources and critical minerals to new and existing trading partners
  • meeting growing resources demands in our region during a period of energy transition, including to realise new opportunities  
  • developing industry partnerships and supporting research and development by the resources technology and critical minerals sectors
  • enhancing government-to-government and business-to-business linkages in key markets in our region.

Strategic policy context

Identifying new opportunities through: 

  • Exploring for the future program
  • Junior Minerals Exploration Incentive
  • Strategic Basin Plans
  • Critical Minerals Strategy 
  • Hydrogen Strategy 
  • Technology Investment Roadmap. 

Supporting business investment through: 

  • Northern Australia infrastructure facility 
  • Export Finance Australia
  • Major Project Facilitation Agency 
  • Austrade.

Remaining productive and competitive through: 

  • Cooperative Research Centres
  • METS Ignited Growth Centre 
  • Prosperity through innovation strategy. 

Creating strong supply chains with: 

  • Road and rail investments 
  • $110 billion land transport program 2020 to 2030 
  • Free Trade Agreements 
  • Bilateral FTAs across Asia-Pacific and the US
  • ASEAN
  • TPP.

The strategy also considers our role in trade through the: 

  • Foreign Policy White Paper 
  • World Customs Organisations
  • G20 members. 

Proximity to growing markets in the Indo-Pacific

Australia’s close proximity to growing markets in the Indo-Pacific gives our suppliers the advantage of lower transport costs and shorter time frames, making us an ideal supplier of emerging energy resources to these growing markets.1

Australia’s proximity to high-growth Asian markets makes it an excellent base from which to export commodities, services and technologies. Exporters from Australia access these crucial markets through:

  • mature export links
  • free trade agreements
  • a strong logistics and shipping network.

Map of Australia with radial size indicators over our major export desitinations. China is our largest export market totalling $121 billion in value in 2020.

View larger image of the principle markets for Australia's commodity exports.

Australia's major commodity exports in 2020 (A$m) by export destination. Source: Resources and Energy Quarterly, March 2021.

Footnotes