The Treasurer will chair the Ministerial Council Meeting (MCM) of the OECD to be held in Paris on 26-27 June.
Before the MCM, the Treasurer as Chairman will meet with the OECD's Business Industry Advisory Committee and the Trade Union Advisory Committee on 25th of June. He will also be opening the Forum 2000 conference, which is a major initiative of the OECD Council aimed at improving discussion between governments, business and a wide cross section of society.
The MCM is the main meeting of the OECD, when representatives of the 29 member countries meet at Ministerial level to discuss broad economic and multilateral trade issues. Ministers of finance, economic affairs, trade and/or foreign affairs will attend the meeting.
The theme of this year's MCM is 'Shaping Globalisation' and the discussions will cover issues such as the world economic outlook, policies to support economic growth and employment, and the challenges and opportunities arising from globalisation, including governance issues and multilateral trade. Ministers will also review work on eliminating tax practices that distort competition and measures to combat bribery of public officials. These projects are part of the OECD's aims to develop fairer and more open global markets.
Election as Chairman of the MCM acknowledges Australia's strong economic performance and record of policy reform and innovation. Australia's economic performance during the Asian economic downturn was outstanding, and it remains one of the fastest growing economies in the OECD, with unemployment at decade lows, strong growth in productivity and low inflation.
The theme for the Forum 2000 Conference, which is being held in parallel with the MCM for the first time, will be 'Partnerships in the New Economy'.
The Minister for Trade, the Hon Mark Vaile will participate in the MCM and the Forum 2000 on behalf of Australia. The Treasurer will be leaving Australia on 22 June and returning on 29 June.