NSW remains without a trade strategy a year into Minns government

Trade Minister Anoulack Chanthivong failed to identify key export statistics after ripping up previous government’s trade statement

After almost a year in office, the Minns government still has no strategy for how to grow NSW’s exports after junking a major trade statement prepared by the Coalition.

Trade Minister Anoulack Chanthivong is now being criticised for leaving NSW “lost at sea” on growing exports, after a trainwreck budget estimates hearing where he failed to identify key economic statistics and revealed the government is still “working through” its trade strategy.

Mr Chanthivong revealed on Friday that he has walked away from a Trade Statement handed down by the previous government’s but does not have a new strategy with which to replace it.

“We are not going to adopt a trade strategy that’s not the policy that the Government’s implementing,” Mr Chanthivong said of the 2021 trade statement

“We will have our own trade strategy and we are working through that trade strategy as we speak.”

That trade strategy will not be completed before at least the end of 2024.

Trade Minister Anoulack Chanthivong could not recall the size of the NSW economy last year. Picture: NCA NewsWire

. Under questioning, Mr Chanthivong would not confirm he had read the trade statement – which outlined a target to grow exports to $200b per year by 2031.

Mr Chanthivong also revealed that he failed to hold a sit-down meeting with recently departed Senior Trade and Investment Commissioner (STIC) Mike Newman when Mr Newman was in NSW last month, with the pair only crossing paths at cocktail functions.

Mr Newman quit his role months early last month after the Minns government scrapped the senior overseas postings to save money – something which has attracted criticism from a number of business leaders.

Former Senior Trade and Investment Commissioner for North Asia Mike Newman. Picture: Supplied.

Pressed during a budget estimates hearing on Friday, Mr Chanthivong did not know the size of the NSW economy – which had Gross State Product (GSP) of $777b in 2023 according to Department of Foreign Affairs and Trade statistics.

Mr Chanthivong also failed to identify the proportion of GSP created by exports.

“Exports are an important part of the NSW economy,” Mr Chanthivong. Later, after being briefed, he identified that exports made up about 19 per cent of GSP last year.

Trade Minister Anoulack Chanthivong has been accused of leaving NSW “lost at sea” in his portfolio. Picture: NCA NewsWire

According to DFAT statistics, NSW exported $150b of goods and services last financial year.

Upper House Liberal MP Jacqui Munro, who led the budget estimates hearing, slammed Mr Chanthivong for failing to engage with “one of the most important portfolios for our state’s economic prosperity”.

“As Victoria and Queensland increase their overseas presence through dedicated trade offices and expert industry contacts, NSW is now getting a reputation for shrinking our international engagement.”

 “Under this Labor Government there is no plan to grow the state’s economy through exports or trade relationships. We are lost at sea,” she said.

Mr Chanthivong said he was progressing NSW’s trade interests at a meeting of the Association of South East Asian Nations (ASEAN) in Melbourne on Monday.

Bureaucrats came to Mr Chanthivong’s rescue during Friday’s budget estimates hearing. Picture: NCA NewsWire

He claimed the previous government “smashed our international credibility by abusing the international network with sleazy appointments and dealings,” in reference to former Deputy Premier John Barilaro’s appointment to a New York trade role that he never took up.

While at the ASEAN summit, Mr Chanthivong was expected to meet with key business and diplomatic delegations from Cambodia, Singapore, Laos, ASEAN Universities and others.

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