ANTHONY ALBANESE, PRIME MINISTER: Good morning. It's fantastic to be here in Korea for the APEC Leaders’ Summit and it's been a busy time already. Yesterday, going to the memorial to pay tribute to the Australians for whom Korea is their final resting place, but also, to show respect to the more than 17,000 Australians who fought as part of the UN forces during the Korean War. It was an opportunity, as Australia's Prime Minister, to show that respect and to also meet Korean veterans of the war who came to show their respect and their thanks to Australia for our participation in the fight for freedom and democracy here in the Republic of Korea.
Last night, we had a terrific informal dinner hosted by the President of Korea with the President of the United States, President Trump, as the special guest. But it was an opportunity, for around about two hours, to have a discussion with four of the Five Eyes countries, with the United States, Australia, Canada and New Zealand, in addition to our neighbours here in Asia in Korea, Thailand, Singapore and Vietnam. It was an opportunity to once again have a discussion with President Trump about the successful meeting that we had just a week ago to reinforce the support for AUKUS, the support for our defence and security relationship, but also our support for the critical minerals and rare earths arrangements that have been put in place. And to strengthen the economic relationship that we have with not just with the United States, but with our region here as well. It was a real opportunity to develop relationships further with leaders from those seven other countries and a really positive initiative from the President of Korea, who I will have a bilateral meeting with later today.
In addition to that, today I'll visit POSCO. POSCO is Australia's biggest commercial partner. Just last year, this mind boggling figure, $18.2 billion of Australian exports from one company, POSCO, right here in Korea. I visited POSCO's operations in Australia that by and large are around the regions in Western Australia, in Townsville, in Victoria. These are an important commercial relationship that we have and I'll be meeting with the CEO and the Chairman today at their major facilities, watching the import of Australian value. And what that is, that represents Australian jobs and Australian economic activity. That's my focus of international engagement. We live in a globalised world. These relationships are important for our economy and for jobs. They of course are also important for our security and for peace in the region as well.
Today, there will be an important meeting, as we speak, will commence soon, if it hasn't already, between President Trump and President Xi. We welcome the meeting of the world's two largest and most powerful countries and economies. We are optimistic about a positive outcome. I've had the opportunity now to have a discussion with President Trump as well as with Premier Li of China in just the last few days, and it has been an opportunity for me to engage with them. These are important relationships for Australia.
Happy to take some questions.
JOURNALIST: What would positive outcome between the US and China look like to you and to Australia?
PRIME MINISTER: The world has an interest in economic activity. We live in a globalised world and with a global economy. We want to see less tension in trade and we want to see a positive outcome going forward. We want countries to work together. That's something that we have worked very strongly on. We have, if you look just at the last few years, when we came to government, the economic relationship with our major trading partner had a range of impediments. Those impediments have been removed. That means jobs for Australians, particularly in our regions, in our agricultural sector, but also in our services sector as well. We obviously also want to see a reduction in tension around the world. And the United States and China have an important role as the two major economies and the two major powers that exist in our region and right around the globe.
JOURNALIST: Prime Minister, did Mr Trump personally invite you to that dinner last night? How did you receive the invitation?
PRIME MINISTER: We received the invitation in the usual way and we engaged very constructively. And I was very pleased to accept the invitation last night and it was a great honour for Australia to be invited. It's not the usual thing for such a small, intimate dinner, as it was last night to occur, but a real opportunity and one that I was very pleased to accept.
JOURNALIST: Can you confirm whether or not you'll attend next week's COP Leaders’ Summit in Brazil? And if you're not going, does that risk sending a signal that Australia is not serious about its bid to host?
PRIME MINISTER: Not at all. I'm sometimes amused by the contradictory messages from Australian media saying I should do more international travel, but when I do, say I should do less. We will work out our itinerary. Australia will be represented there. Parliament is sitting next week. This is the first full week of Parliament I've missed in 30 years, almost, of representation. And so obviously, this week is a leaders’ level meeting, but we take COP very seriously. We are advocating to host COP at the end of next year. We're working through those issues.
JOURNALIST: But you won’t be attending, just to confirm?
PRIME MINISTER: I didn't say that. I very clearly didn't say that. We're working through those issues. We'll be represented. We make announcements at the appropriate time.
JOURNALIST: Prime Minister, the US President has confirmed a green light to transferring the nuclear technology needed to South Korea to enable them to build nuclear-powered submarines. Given our enormous investment in AUKUS, does this concern you in any way and do you agree with the summary that many are taking from this, that South Korea is actually being given a higher level of secret US nuclear technology than we'll receive under AUKUS?
PRIME MINISTER: No, in a word. To put it clearly. These bilateral arrangements are a matter for the United States and Korea. The arrangements that Australia has entered into with the United States and the United Kingdom are in our national interest, they will provide for Australia to have access to that technology. And that's a very positive thing.
JOURNALIST: But just following up on that, the US Defence Secretary said it was highly doubtful the US would be able to sustain AUKUS while also helping the South Koreans get nuclear. So, given this announcement by President Trump, do you think there are potential implications for AUKUS?
PRIME MINISTER: No. I think President Trump's comments couldn’t have been clearer and they were very clear last week in the White House. They've been clear ever since. President Trump has made very explicit his not just support for AUKUS, but indeed the bringing forward of the timetable, if that is possible.
JOURNALIST: Is there concern about the prospect that Taiwan might be put on the table as part of the trade truce and that there might be a watering down of US resolve around Taiwan?
PRIME MINISTER: We support the status quo when it comes to Taiwan and its status. That's a longstanding bipartisan position that Australia has had. We have a bipartisan position for the One China policy, but we also don't want to see any unilateral action.
JOURNALIST: Prime Minister Donald Trump had a few comments on tariffs yesterday. He said tariffs have been properly used. We don't use tariffs very much and so on. He said that tariffs have strengthened our alliances. Do you agree that the US tariffs have strengthened its alliance with Australia?
PRIME MINISTER: What I do is when I'm asked questions about President Trump's comments, I go back to the statement that I made very early on in the presidency, which is I'm not going to give a running commentary on the comments of President Trump, or anyone else for that matter. What I do is state Australia's position. And Australia's position is that we support free and fair trade. We believe that the more open that trade occurs, the better it is for the global economy, the better it is for Australia. And we consistently put that position.
JOURNALIST: You've spoken about tensions today. You've previously said words to the effect that we're living in the most dangerous strategic environment since World War II. Do you believe that is still the case or is some of that tension easing? Could we see some of that tension ease further today?
PRIME MINISTER: We live in an era of strategic competition. But what we are seeing is really positive developments. It is a good thing that President Trump and President Xi are meeting today. I've developed good, positive relationships with both President Trump and President Xi. I engage on Australia's behalf diplomatically in a way that advances Australia's national interests. Because it is in Australia's national interest for there to be peace and security in our region, for there to be economic engagement. One in four of Australia's jobs depends upon trade. Over 75 per cent of Australia's trade is with APEC members. That is why it's in Australia's interest for me to be here, why the Foreign Minister, Penny Wong has joined us here in Korea today, and why she will be having meetings with her respective foreign ministers today as well. The meeting with POSCO is just one example of commercial relations that are occurring between Australia and businesses in this region. $18.2 billion of Australian exports coming here to just one company represents by far the biggest economic relationship between one company and Australia that exists. That is very important. And over coming days as well, with the APEC meeting tomorrow, it's been an opportunity for us to have bilateral meetings as well as the informal meeting of goodwill that occurred last night.
JOURNALIST: On last night, again, can I just clarify, when did you receive that invite and were you aware going into that event that you would be sat at the right hand side of the US President?
PRIME MINISTER: Yes, I was. Thank you.