Innovation focus of COAG strategic plan
A pledge to establish a Strategic Resources Advisory Group and identification of five strategic priorities were but some of the outcomes of the 21st national COAG meeting
The meeting, held late last year, focused on the outlook for the Australian resources sector and how to realise its future potential.
Resources and Northern Australia Minister Matthew Canavan said the meeting discussed a fresh long-term strategic reform agenda to drive Australia’s resources sector to be the world’s best.
"This is a strong start to better collaboration between the Commonwealth and the States and Territories to ensure Australia’s resource sector remains a world leader," Minister Canavan said.
"At the heart of this agenda is attracting investment into the sector to build a stronger economy for all Australians."
Ministers welcomed the new Tasmanian Minister for Resources, Building and Construction, The Hon Sarah Courtney MP and thanked the Hon Ben Wyatt MLA for his contribution to the Council.
Ministers discussed the importance of bringing power prices down, while planning for the future security and reliability of the grid.
"One direct outcome was an agreement to develop a critical minerals work program in response to the huge range of industries which are rapidly changing because of their use in the new economy. The program will pull together all jurisdictions and enhance existing state-based initiatives to open up an exciting new future for our resources sector."
Participating Ministers agreed to the development of a forward work program to facilitate the economic and competitive development of Australia’s minerals and energy resources, along with the five strategic priorities of:
- exploration and new developments
In addition, the meeting agreed to six new action items as outlined in the official communique.
The COAG Energy Council will meet again soon to consider options for establishment of a Strategic Resources Advisory Group which will provide expert advice on the long term strategic priorities for the sector, particularly in the R&D and innovation space.
To read the communique from the meeting, go here.