Speech by Scott Morrison AFR: Seven manufacturing areas listed in Australia’s ‘national interest’

Scott Morrison has identified seven key products that Australia will focus attention on in the ‘national interest’ amid global supply chain challenges.

Scott Morrison will single out seven key types of goods Australia needs to focus on ‘in the national interest’ amid growing global supply chain disruptions.

In the wake of Covid-19, trade coercion from China and the war in Ukraine, the prime minister is expected on Tuesday to outline the categories of goods Australia should focus on domestic manufacturing.

Giving his keynote address to the Australian Financial Review business summit, Mr Morrison will say the government has a “vital” role to play in maintaining Australa’s economic security.

He is expected to exemplify the crucial diesel exhaust fluid AdBlue.

Last Christmas the trucks were almost brought to a standstill after China banned exports of urea, which is a key ingredient in AdBlue.

But the government stepped in and struck a deal with a local manufacturer amid the global shortage.

“It is worth highlighting that for the most part Australian businesses have successfully managed supply chain risk over the past two years – particularly Covid and trade coercion and now the dire crisis in Ukraine,” the report is expected to say. Prime Minister.

“Companies know their business best and are primarily responsible for providing the vast majority of goods that Australians want and need.

“(AdBlue) highlights the vital role government can and must play in maintaining economic security and identifying industry solutions to specific problems.”

The Prime Minister is expected to say that while Australia cannot produce everything locally, there is “huge potential” for growth in the manufacturing sector.

It will outline seven key initial categories of assets that require special attention and are considered important to the “national interest”.

These are:

Semiconductors – Used in electronics and computer science, they are materials that conduct a current but only partially. Examples include computer chips and high quality silicon wafers.

Agricultural chemicals – Examples may include fertilizers, pesticides, herbicides, rodenticides as well as chemical compounds such as urea or ammonia.

Water treatment chemicals – These can be substances used to disinfect or purify water. An example of this is chlorine.

telecommunications equipment – This could include hardware used for mobile phone networks, including routing.

Plastics – Examples may include polyethylene, polypropylene or PVC packaging, piping, construction or medical products.

Medications – Common and specialized medicines and drugs as well as the ingredients necessary for their manufacture.

Individual protection equipment – It could be gloves, masks and other products that have been used in the fight against Covid.

The Prime Minister should use examples where progress has already been made in these areas.

He will mention an agreement with Moderna to establish mRNA manufacturing in Australia and an investment in mask manufacturing at Med Con.

“In this new era, we can’t just think about ‘just-in-time’ supply,” he said.

“We also need to think about a ‘just in case’ model that promotes greater diversification and larger inventories of key assets.

“Trusted partners are essential.

“This is the world we live in now – and we all know that supply chain disruptions are less when we plan for and prepare for them.”

Read related topics:Scott Morrison

About Mariel Baker

Check Also

Robinhood Announces New Noncustodial Crypto Wallet Allowing Investors to Store Digital Assets, Including NFTs

Robinhood announced on Tuesday that it is releasing a noncustodial cryptocurrency wallet in a standalone …