CANBERRA—Federal Treasurer Wayne Swan plans to push for greater debate about the economics of climate change when he attends an Organisation for Economic Co-operation and Development (OECD) meeting in Paris this week.
The OECD Ministerial Council Meeting is the first official stop on a two-week tour that will also take in a meeting of G8 finance ministers in Japan.
Mr Swan today said both meetings were crucial in that they offered the Government an opportunity to engage closely with key global economic institutions at a time of global economic uncertainty.
"These key meetings come at a time when the Australian economy is being buffeted by strong countervailing forces in the global economy," Mr Swan said.
"Notably, the US economy has slowed sharply and turbulence on global financial markets, higher borrowing costs and record oil prices have had significant effects in the Australian economy."
He said that at the same time, demand for Australian commodities, from China in particular, had pushed the terms of trade to generational highs at a time of elevated inflation both at home and abroad.
"In these circumstances, it is vital that we engage closely with the key global economic institutions and forums, strengthen our key economic relationships and promote Australia's enduring economic stability and competitiveness."
Mr Swan will also lead a discussion on the economics of climate change at the OECD meeting.
He said this would present an opportunity to promote Australia's commitment to reducing greenhouse gas emissions and the Government's plans for introducing an emissions trading scheme.
Labor has committed to reducing greenhouse gas emissions by 60 per cent by 2050, and to introducing an emissions trading scheme by 2010.
"Like the Rudd Government, the OECD recognises that climate change is more than an environmental challenge - it is an enormous economic challenge as well," Mr Swan said.
During his trip Mr Swan will also meet with representatives from the US, Mexico, Norway, UK, China, Japan, Russia, Italy, the USA, South Korea, Thailand, Brazil, Indonesia and Canada.
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