[background noise] [background noise] ladies and gentlemen. We are about to begin. Your seats and silence all cell phones and other electronic devices. [background noise] [background noise] as we mentioned, state governors from across the country are meeting in washington, d. C. Well be covering their meeting this morning and throughout the day, the National Governors association will host panels to talk about jobs, the Opioid Crisis, and the future of agriculture. We will be getting underway in just a minute. Governors and distinguish guests. Guests, pleased rise for our National Anthem of National Anthem, which is being performed by a distinguished a Cappella Group from st. Marys high school. Nal anthem] [applause] please be seated, everyone. Good morning. Im brian sandoval, the governor of nevada. To washington, d. C. And the 110th meeting of the National Governors association and lets give another big thank you to nothing but trouble, who were pitch perfect. A big hand for them. Many people do not realize house steeped in history this organization is weird its founding is. Its founding goes back to 1908 when president Theodore Roosevelt rot governors together to discuss important issues Theodore Roosevelt brought governors together to discuss important issues. We come together twice a year to share best practices, speak with a collective voice, and develop innovative issues that would improve state government. My fellow governors, welcome. I am humbled to be able to lead this organization. Those in this room are truly the nations chief creating new opportunities and laying the foundation for a Bright Future for the people of our states. As governors, we engage with our citizens every day, which is part of the reason why some of the most trusted of officials in the country are governors. I would like to take a moment to recognize two of our newest colleagues Governor Phil Murphy of new jersey. Would you please stand . [applause] and Governor Ralph Northam of virginia. [applause] congratulations to you both and welcome. A little bit of housekeeping. The rules require any governor who wants to submit a new policy or resolution for adoption at this meeting will need a three fourths vote to suspend the rules to do so. I dont know if this ever happened but i have to say it. Please submit any proposal in writing to anna davis of this staff by 5 p. M. Tonight. Wees me great pleasure have several distinguished guests with us who need to be introduced. Years winter meeting, we have a unprecedented number of international participants, with heads of eight, cabinet members, subnational members, ambassadors, and foreign executives representing 12 countries. Never happened before. We are so honored to have you all at our meeting. Would you please stand as i name each of you. , ontario premier, kathleen wynn. 202 7488001 [applause] mayor, philippe couillard. Bryson, treasury of the executive board of canada. From japan, special advisor to the minister, operations oh abe shinzo. From mexico, tabasco governor arturo nunez. And governor Francisco Domingo serbian. From the united kingdom, sir alan duncan. 202 7488001 [applause] will have the firstever african leader to address the governors. Will givean president a keynote. Finally, im excited to announce we have with us the largest delegation of australian public and private sector representatives to ever travel to the United States. In a few moments, i will have the pleasure and privilege of introducing Prime Minister malcolm turnbull, who is with us today. First, i want to recognize my australian subnational counterparts who made the with us in washington, d. C. I understand it is midnight your time. We appreciate that. With us is the New South Wales premier. [applause] the queenslands premier. [applause] the victoria premier. [applause] the Western Australia premier. [applause] the Australian Capital Territory chief minister. [applause] the Northern Territory chief minister. [applause] from the Prime Ministers cabinet, the minister of tourism is also with us today. [applause] we have the opportunity to have breakfast this morning. We were running who is running government we were wondering who is running government in australia. We are pleased you are here. We would like to recognize the companys whoever made a significant commitment to support the nacional the National Governors. This Program Includes many companies. With their contributions, this meeting becomes a reality. More than 100 companies provide crucial support, helping to helping to sustain the center for best practices and helping to innovate and develop best practices. Relationships with private sector are invaluable in providing governors with ideas that work. I want to thank our platinum Level Partners for the investment. Apple,re, anthem, bluecross, deloitte, and walmart. Please join me in thanking these companies for their support. [applause] now for the main event. Ours my honor to welcome first speaker and distinguished guest. The australian Prime Minister malcolm turnbull. Mr. Prime minister, thank you for joining us today and providing a opportunity to continue our dialogue about how we can work in partnership to grow our economies together. For those of you who do not know , his address is especially timely. Years since our two countries became allies in world war i. 1918, our relationship has grown beyond military alliance. Allowed ourn has states to collaborate across a range of initiatives and our trade flows to increase, despite distances and time zones. The opportunity to visit australia in 2016. Significantand the cultural and economic ties between our two countries. I speak for all of us, mr. Prime minister, when i say governors are ready to elevate this hard in her hear from you elevate this partnership and hear from you in the next 100 years of mateship. My fellow governors, ladies and gentlemen, please join in giving Prime Minister turnbull a warm welcome. [applause] pm turnbull thank you very much. Thank you governor steve bullock. Governors of the United States ministers, my trade our ambassador, chief executive ga, friends and distinguished guests. I want to thank you for your as we think President Trump and First Lady Melania Trump for the warm welcome and hospitality accorded lucy and me during our visit. Both our countries are federations. Our federation was inspired by yours. Our system is a parliamentary system. It works very well but as i said to some of you last night, complaining about the Australian Federation is like complaining about switzerlands mountains. We are joined by our counterparts, the premiers and chief ministers of our states and territories. Are federations of great states and each is so much greater than the sum of the parts. , ont says on the great seal the scroll carried in the beak of the eagle, out of many, one. Looking around the room, i am struck by the diversity of ties of ties that bind our countries. Governor herbert of utah, where , hastralian Mining Company generated more exports, income, and employment, then any other private sector operation. Your stay,ndoval, in Australian Graduates are setting up a aerial delivery service, working with the university of nevada. Made the first regulatory approved deliveries of medical supplies. Im told theyre working with nasa to sort out the details of air traffic control. Relationship as proud and independent federations, came of age 100 years ago on the battlefields of world war i. You can read in the letters and diaries about battle hardened soldiers. They atrveled at the arrival of the sammies. Did not take long to win respect. They fought their first offensive with australian troops. Time, this was arguably the most sophisticated joint operation in history. It was the first time american soldiers had served under foreign command in a offensive operation. Under the leadership of our , he plannederal with them to take the village in 90 minutes. They did it in 93 minutes and he chose the fourth of july to do it. Americas intervention in the its arrival asd a global superpower, with both interests. Ealist president wilson proclaimed this was the world this was the war to make the world safe for democracy. Pointttle was the turning that put the german army on the defensive right up until armistice day. For our two nations, it was the beginning of 100 years of matesh trustrging unbreakable through the active defending each others liberty and guarding each others backs. We think of the personal bonds that were formed as one million troops crossed our shores during and layers of institutional ties that have been forged as we sealed our alliance with the treaty of 1951. In more recent times, with the skies over syria, our combat powers fought together with the shared objective of defeating terrorism. We have been sidebyside in afghanistan for 16 years, our longest military commitment. Ourhe southern philippines, forces provided Game Changing support to the armed forces of the philippines to subdue a insurgency. Our intelligence agencies are demonstrating the deepest possible commitment to each other by sharing sensitive information, saving american and australian lives. Last year in sydney, our respective intelligence agencies , working with our friends in israel, enabled us to disrupt a plot to bring down a passenger aircraft. Hundreds would have died. Our Intelligence Corporation with the United States and other partners save lives around the world. Thatwhat the lineup is what the Alliance Means today. It is a means for maximizing independence, not constraining it. Trust,s of personal strengthened over generations and underpinned by the deepest alignment of shared political values. This is the genius that unites our two nations. We define our national identities, australia and the oured states, we define identities not by race or religion or ethnicity but rather by commitment to shared political values freedom, lawcracy, equality, rule of. Patriotism is not tribalism or nationalistic chauvinism. It is not about demonstrations of subjugation. As George Orwell observed, true patriotism is a shared commitment to a way of life that is guaranteed by the institutions of democracy and the rule of law. Institutions which are allptable accessible to but rarer around the world than you might think. Since the second world war, the United States has spread these principles to build a International System which has tempered the exercise of raw power and guided global cooperation. Has enabled our collective security and prosperity for the entire postwar. The entire postwarperiod postwar period. Australia has supported, reinforced, and occasionally led this process every step of the way but we know we cannot take it for granted. Our part of the Indo Pacific Region has enjoyed so much peace and prosperity were so long that there are some who forget that none of it would have been without the anchor of american commitment and strategic power. That commitment is as important now as it has ever been. Commitment has been at a cost, paid in blood and treasure. We understand the American People expect others to pull their weight. As we do and always have. Is investing in the largest revitalization of our armed forces in history. Our defense spending is on track by 2020 andof gdp in these uncertain times, we should all be thinking about what more we should contribute. Weak knowledge of the sense of frustration felt by americans that not all countries are contributing to efforts to reinforce the strength of the trading system that the United States has helped create. To the wtoobjections being consistent and enforcement interactions. Towant to work with you improve the wto and make it a more effective form at driving trade reforms and insuring more compliance with rules. We will maintain a dialogue on how our systems protect technologies and facilities integral to National Security, while ensuring our markets remain open. The institutions that enable freedom, security, and opportunity have been difficult to build but easy to break. The shangrila dialogue in singapore last june, i warned we cannot allow the framework of International Law to be undermined. In november, i outlined a trade policy agenda and committed our nation to the principles of open markets, economic freedom, and. He rules east trading system rulesbased trading system. We understand the president s decision to withdraw from the system. We were determined to keep that project arrived. It will be signed next month in chile. We do not expect the United States to return to the tpp anytime soon. Foot, weg this pact on have created a live option which auld otherwise not exist for negotiated u. S. Return in the future, a possibility the president has referred to. My government, released a Foreign Policy white paper, which commits us to eight more active role in shaping our region in the future. We will work to promote a open indo pacific in which the rights of all states are respected. On december 7, i introduced a farreaching reforms to protect the integrity of our political processes from political interference from foreign interference. Of primary responsibility all our governments is to secure the safety of our people and our way of life. Security and freedom are frequently presented as binary opposites. These two principles are not mutually exclusive. They must be mutually reinforcing. The question is not what freedoms to forgo for security it is what security is required to enable freedom. Maintaining security ensures we do not have to close our borders to people but rather the opposite. Maintaining our security of love is to sustain the benefits that flow from our openness to the world. Commitment to open markets, transparency, and the rule of law has generated a reservoir of trust between businesses and regulators. Capital equipment so much that our bilateral trade accounts are tilted in your favor. Weve not turned a bilateral trade surplus with the United States since president truman. Not that anybody is counting. Forican Companies Account one quarter of all Foreign Investment in australia. Thee contribute into greatest job search in our ,000 new jobs 403 added last year in australia. Weve just watched the u. S. Economy added 2. 2 million jobs last year. Unemployment is the lowest since 2000. Around 180,000 american jobs are the result of australian investment. Australias premier shipbuilder employs over 4000 americans and its investment is growing. A honor yesterday and a symbol of our lines, when the president announced the United States navy would name a future combat ship to be built in. Labama, the uss canberra the american and australian economies are helping each other to thrive. I would speak for all of the australians we find it impossible not to be constantly inspired by the energy of the American People, always reaffirming the resilience and a resultant list a relentless curiosity to find a new way. Know innovation is the key to productivity, which enables Economic Growth or better paid jobs. The key elements in our economic strategy, your governor from north dakota was until recently of a outstanding global Australian Technology is this operating here in the United States. Technology business operating here in the United States. Your example is always a inspiration. Many of the technologies of that have transformed our lives, from to the platform that has enabled them all, the internet, where developed in the United States were developed in the United States. Australia has made great competitions contributions. The United States remains unrivaled when it comes to commercialize asian. Rcialization. Pundits have been warning the u. S. Is running out of oil for nearly 100 years. Thanks to innovation in horizontal fracking, u. S. Oil production has nearly doubled. Ngas the bgas focus. The signing of a memorandum of therstanding with Australian Federation, your counterpart, will deepen collaboration. Tax cutss of company in both countries will lead to more investment which will mean more and better paid jobs. The imf has listed its Global Growth forecast. We cannot deny the need to be competitive increases the urgency with which we are pursuing similar tax cuts in australia. We are presenting legislation to reduce tax to 25 . We have already achieved a for businesses with turnover of up to 50 million a year. Those businesses employing half of the private sector workforce in australia. We need to go further, as you have. The flow of Investment Technology is not just one way. 200 billion dollar defense capability is driving a new generation of Australian Technology enterprises to integrate into supply chains, like boeing. We want the integration of our defense supply chain to match the interoperability of our armed forces. Im incurs to see us Drilling Companies have been awarded more than 1 billion in contracts. Figures should double within the five years. Our target is to become a top 10 Defense Industry exporter. I know state and leaders are looking to leverage commitment to infrastructure. Clearly, our Infrastructure Companies thrive in a system of transparency. Urban. Es like trans to see u. S. And australian Infrastructure Companies working together in other countries, and places like southeast asia, where there is need for high quality bridges and telecom. For this to work, we need to get on with the postwar project of shaping a environment in which the most competitive and rule abiding companies can succeed. Smartw investing in Infrastructure Projects can drive a regional economy. A bridge creates more than the sum of its parts. In many cases, government backing will be there. A good example is our commitment to building a under seas cable. Is for a single inclusive free trade zone of the indo pacific, integrated under a common set of rules and which we drive growth and job creation. It is vital strategic cooperation does not great rival blocs. We look forward to partnering with all companies countries, including the United States, on those projects which meet the criteria of fairness, transparency. We constrain large states from imposing arbitrary barriers and engaging in economic coercion. Security and prosperity go hand in hand but we need to level the , update the rules of the digital world, and ensure Greater Transparency and stronger rule of law in a world which is short of both. We backed the Transpacific Partnership so strongly, not just because of the Market Access but because it need tothe rules we match the economic journey we are embarking on. Guests, it would be too easy for the rest of the world to take americas contributions for granted. Debates have prompted partners around the world to take greater responsibility. Callw it is fashionable to to condemn democracy to a fate of decline. That is not what im hearing from our partners in our part of the world nor is it what the Trump Administration is engraving into its policy statements. The National Security strategy a a manifest for upgrading rulesbased system, not breaking it aired breaking it. Signals ase strategy news system. President trump is nomination of admiral harry harris underscores this. The worldeadership in is in our interest but it isnt yours to. Too. T it is in yours generation that has enabled american prosperity. President trump reminded us America First does not mean america alone. So much has changed in the last century. We are living at a time when the pace of scale of change is unprecedented. Alliance, our partnership whether it is a century ago or a century hence will remain built on a foundation of shared values which are timeless, but never more timely. Values as australian as they are american. Rule of democracy, the law, and the spirit of enterprise they enable. Thank you. [applause] gov. Sandoval good morning again. Please give the Prime Minister on another hand for that speech. [applause] the Prime Minister has graciously agreed to take questions. I have the privilege of asking the first question. You spoke about it given your focus on innovation and your tenure as Prime Minister and that being a topic of my howiative, i wanted to ask the United States and australia can be partners in innovation . Prepare for Disruptive Technologies and how do they reshape our economies . I think government has to leave lead by example. It is critical we do that. Everybody ensure ,nderstands that in this age that change which is unprecedented in scale and pace it is worth reflecting on that how many technologies which have been so transformational yet so recent the pace has no counterpart. That means that given that reality, we have to make sure we make it our friend. We have to make volatility our friend, not our foe. Important we aim for employability. The job you start when you get out of school may not be there for the rest of your life. You have to be able to keep reskilling. That is important. Ensure the growth we get an advantage from technology do not leave individuals or regions. That has got to be the key focus. We have got to recognize the times in which we live and recognize we cannot change them and say, how can we work this to our advantage . Gov. Sandoval governor bullock has the second question. Gov. Bullock picking up on where you are ending transformative technologies create so many opportunities for our states and our nations nations. There are also challenges, economically and security wise. Addressing some of these challenges, be it workforce on the one hand we have transformative technologies but there are folks who feel like they are being left behind . Thank you. There is no substitute for strong Economic Growth. That is the first point. The pace and scale of change is unprecedented but there have been technological changes in the past. To 100 years ago when our soldiers were fighting together in france, the large percentage of americans were engaged in agriculture. Nowadays, it is only a few percent, as in australia. That is because of technology. All of these changes occur but you need to have Economic Growth to create new opportunities. This is where trade has been no ant as the premiers premiers know. We had a huge commodities burden. The premier from Western Australia said it was a once in a lifetime. Hopefully, you will see another one. The point was that caused a great boom and big transitional adjustments. Some regions were hit hard. Ofause of the opportunities the free trade agreements we have created, we have seen stronger growth in our regions and that has been one of the features that has cushioned the impact of what would have been a hard landing. Having a diversified economy is important. Thank you. K gov. Sandoval i have the second question. Trump,gard to president he started a conversation with regard to infrastructure and i speak for all of the governors when we appreciate the fact that infrastructure is a constant challenge with regard to mobility and safety for constituents. That given that is a conversation in australia, how do you work with the premiers with regard to infrastructure and what is the approach . Im sure all the premiers and chief ministers will agree, the worksl government entirely to their satisfaction. We have never had a complaint. We haveast night meetings a couple of times each between the premiers and chief ministers and the federal and we find these meetings so much fun that we decided to go on this trip together. Look, let me answer that question in a way you may find helpful. First, our premiers and chief ministers have enormous experience in our area in this area. There is a infrastructure boom going on in New South Wales. Thegovernment and predisaster said predisaster set in train a infrastructure commitment in New South Wales. The other premiers have made great achievements as well. Historically, the federal has made grants. Written out checks for contributions. I was inspecting where theand recently federal government is contributing 80 of the cost, others where it is contributed 50 . Get smarter about the way we invest in infrastructure. Which thed a practice ambassador started when he was , encouraging estates to recycle assets and to sell state owned assets. We sold a port for a good price. Assets, sell them, and deploy the money into new infrastructure. State, the government, is wellplaced to take the risk and having a asset built, to be able to sell it to Pension Funds that are looking for that kind of return. We also have to do more to capture value. Toll roads are straightforward, from a financing point of view. We have a lot to learn in australia and the experience in america is instructive, on how to capture value out of rail. We have to start looking at urban rail as a property deal and develop the means to capture estate the value to real occasioned by the construction of the rail. Some of your cities have been innovative in doing that. , weeed more infrastructure need to be smarter about how we go about it, we need to look at every angle. That is one of the reasons i have set up a innovative project financing unit in our federal government, to make sure we do everything we can to get the ,aximum dollar invested stretching the taxpayer dollar as far as we can into the benefit of infrastructure around the country. There werek individual states. Governor has a understanding of that States Relationship with foreign countries. 2617, between 2016 and australians visiting montana was 41 . Im hoping that will increase. Know what our trade relationships are. How much state dollars in montana, both exports to australia and imports. Recognizing that trade policy is set at the National Level but it is a local community or the subnationals that see the impacts of trade policy. How, from your perspective, can we better help local communities understand the impact and what this does for us . Thank you. I think the challenge for us as as political leaders, in particular is to ensure of easy or lure protectionism does not overtake us. Weight we make the case in australia is we say, look at the evidence. 3,000 jobs last year. The largest growth in our history. 16 months of continuous job we have not found a time when there was longer job growth. All of that is supported by having bigger markets, greater opportunities. Give, we presume to are happy to share our experience, we do not resume to give advice. With all the leaders here, mike in danger, the premiers mike and andrew, we are all mentioning our own states and territories and responsibilities. Offer, you have to make the case, trade, more trade, means more job, investment, exports. Look at the Northern Territorys experience. I mentioned the chief governor a moment ago. The massive u. S. Investment, Japanese Investment in the oil and gas business, has created thousands of jobs and highquality jobs, exporting, trade, you can see the opportunities there. If you look, go back to queens land, i was recently giving a speech in a regional city to the west of brisbane on the great dividing. There are new airports recently built their iv private sector by the private sector. That is now exporting, to put it on the dining tables of asia. Some of the best products in the world. Because of freetrade agreements. That will enable us to do more of it. We are a mediumsized open economy. Trade is good. Moremeans more jobs, investment and that is how we promote it. Than offering that example, we do not presume to give you political advice. Thank you so much mr. Prime minister, for being with us today. Before you head back on this long journey back to us trillion, we are excited to before you head back to the long journey to australia. As we resetffstage, for that and we will be back with you in a moment. Give a big hand to the Prime Minister. [applause] [no audio] gov. Bullock if i could ask everyone to please be seated. If i could have everyones attention please. Chiefd like to invite minister anthony as well as the Prime Minister, the chief ministers the current chair of the council for the us trillion federation he will sign this mou on behalf of the ministers. This memorandum signifies our devotion to developing stronger relations amongst our states and territories, by working together, we can promote and advance Economic Growth that benefits all of our citizens. I know this is the third time but i want to give a big hand to the Prime Minister for joining us today. [applause] [no audio] thank you ladies and gentlemen. [no audio] gentlemen, i want to pivot the conversation to hear from our question really to hear fromrts our australian counterparts. This is critical to the development of our economies. Recently across our two countries, we are seeing hurdles and opportunities created by innovations. With my fellow governors and chief ministers, where hoping to learn from our peers on different approaches to shared challenges and what innovative policy ideas have been developed in the face of these changes. Changes. I want to turn to the queensland premier, who i had the pleasure of meeting during my travels to australia. Driving the economy and the United States role in that. Good morning. It is a pleasure to be here with all of our counterparts. Lovely to hear from our Prime Minister. We have a lot of opportunities to Work Together and share with my fourth visit to the United States as primary, i tried to visit a new state. Ideas i pick up, i take back to queensland. We have a very diversified economy and a program called, advance queensland. Investinglion fund, in business development, industry attraction, scholarships, especially for women, to allow women to stay involved in research. Im also proud, in my cabinet we have 30 women as well 50 women as well. A world first. [applause] know, we need to continue to diversify from traditional areas of agriculture and resources. As the Prime Minister was talking about being exportdriven, we have increased exports over the last year by 25 . Being so close to asia, there is a great opportunity for u. S. Companies to use us as a foot in the door to get into some of those economies, within the shared time zone. Energy, of renewable there is great opportunities for us to share the latest technology. Also, if youre going to prepare people for jobs of the future, you need to look at education systems. I would be interested to hear from other governors, rehab robotics starting at prep in schools. I believe students need the opportunity to prepare for the future. We have great educational institutions. Im very happy, governor sandoval, joining in this relationship later today looking at allowing an exchange of students, from your state to my state. Also, to look at where that innovation is happening in other areas, that we can promote. Our advanced Queensland Fund has created over 9000 jobs already in queensland. It has only been operating for a few years. We firmly believe, through innovation, you can create jobs of the future but you have to, in my state, im very handson. I meet with people. I look at opportunities. I connect with people. Togetherf you work collectively it can lead to great outcomes. Thank you for the opportunity to share those thoughts today. [applause] premier. You, i would like to introduce the premier of australias most populous state. Popular . I am not going there. [laughter] gladys. Premier, your state has taken an innovative approach to investment. Unique financing model for now you have become a leader in social impact investment. If you can elaborate on both of those and welcome. It is my absolute pleasure to be here to share some of the Different Things we have been doing in New South Wales. Hasapproach to management put our budget in a strong position and the economy is growing faster. We implemented an innovative policy, called asset recycling. Could we involve the private sector more in managing and owning assets or leasing them over a long period . We have raised more than 30 billion in the last four years, in addition, it has strengthened our budget position. We have invested that to our infrastructure pipeline. No Government Debt on the books. A growing Balance Sheet of 40 over the next three years. Infrastructure pipeline of 80 billion worth in the next few years alone. A new metro in sydney, major roads, schools and hospitals because of our innovative approach. In addition, were seeing innovative approaches to infrastructure, because we are building so much at one time we are learning how to manage that growth. I would be interested to share experiences. Infrastructure is very topical in the states at the moment. We would be happy to share. Werelation to social impact, have been able to collaborate with the nongovernment sector, Community Organizations and likete investors, in areas dealing with recidivism for prisons, allowing collaboration. The private sector gets a return by purchasing bonds, the government gets a success rate and social cohesion and greater outcomes, and we have seen as a government, the more we involve the private sector and community sector, we have been able to improve provision. New service south wales, improving the customer experience, we have a shop front where you can do 850 transactions online or in person. Ranging from getting a license to gathering information. The touch point is a onestop shop. We are trying to increase that platform through technology as well. The real message from New South Wales, we are excited about Infrastructure Investments of 80 billion over the next four years. Many American Companies are helping us do that. We are thrilled. You want to invite more u. S. Growth to play in New South Wales. Thank you for the opportunity. [applause] thank you, premier, and congratulations on your success. Now i am pleased to introduce the premier of the neighboring state, victoria. I had the pleasure of meeting with near andrews in melbourne, where i saw innovations in biotechnology and infrastructure. Would you please describe how you develop those sectors and what Role International engagements has played in that . Thank you very much, governor sandoval, governor bought, it is been a great pleasure governor bullock, it is been a great pleasure to be here. Learning from so many of our colleagues here at the nga. Last night we talked about the fact that we had shared values and the shared experience in terms of sacrifice but also a shared positivity, hopefulness about the way in which our partnership and relationship can become stronger and stronger, for the Mutual Benefit of both, citizens and taxpayers in our jurisdiction and across the United States. Part of that is not taking it for granted. Doing new things and committing ourselves further, to strengthen that important partnership. The Prime Minister already began the conversation on infrastructure by pointing to asset recycling, and victoria has a good example. The biggest containment port in our nation, we solved that. This is a democratic government, biggest public assets, on our we have a record price, the biggest road project the state has ever seen is unfolding. That is driving jobs, opportunities, we could not be doing that without so many of our u. S. Partners and friends. Putting to use capital that has no real purpose on the books. In terms of publicprivate partnerships which is very much part of the National Conversation that President Trump wants to have around the infrastructure task, we have a lot to offer. Always things to learn. We have 31, publicprivate partnerships from as 200 as little million up to toll roads that are 700 billion in scope. There is a lot we can share, from a professional Services Point of view. Melbourne and victoria have always been known for good science. Biotechnology, medical devices, pharmaceuticals, partnerships with so many institutes of research and learning here in the United States. Taking products to market, those linkages are important, highly valued by us. We are pivoting to becoming not just a hub to the region, we are a launching pad to the asiapacific region in medical research, increasingly in the tech sector and the Cyber Security sector. We are becoming a leader. An opportunity for our partners, in an endeavors, our oldest injustice friends, the people and their representatives in the United States. It is a great honor for us not to just sell our wares but also to learn, and to commit ourselves to a Stronger Partnership looking to the future. Thank you so much, governor. [applause] thank you, premier angers. Premier andrews. Covering one third of australias mainland, premier, can you share a few words . Thanks, governor. Just so you all understand Western Australia, it is 39 of size asmass, the same texas, alaska and california put together. Historya very strong and relationship with the United States of america, particularly in the second world war, the largest Submarine Base in the Southern Hemisphere was in perth. It was the second biggest in the world in the second world war. Senator john mccains father was based in fremantle for a couple of years. The mccain family has a strong memory of our city. Our city, our state, is also the place of origin of heat ledger and sam worthington. Heath ledger and sam worthington. Hugh jackman trained their. Hoover,sident herbert the 31st president of the United States, he worked as a mining engineer in our fields in the late 1800s for around three years. He ran a range of gold mines, the local hotel in one of the towns is called the white house as a consequence. He left Western Australia in circumstances following. He went back to the United States. Our state is a very strong mining province. In oil and invested gas in Western Australia for the last eight years, around 80 billion australian dollars. Largest export location in the world, strong goldmining and other industries. Far more than that. The thing i think is most appealing to the United States, from our shared history, is the fact that we are located in the same time zone as 60 of the worlds population. China, japan, the countries of asia. The ideal place for headquarters of american countries to interact with the region to the north. Location for ideal Industries Like defense and u. S. Ship repair. We also have a range of companies headquartered in Western Australia, an ideal place to do business, located in the right part of the world, that strong connection of shared history between Western Australia and the United States. Thank you for having me here. I look forward to todays events. [applause] thank you, premier, for your insights. That is a lot of land. Continuing on this conversation we would love to hear again from Australian Capital Territory premier. Minister barr as you represent love total, we would hear more of what the strategy is. Thank you, governor. Capital,lias national we take the opportunity to reflect the best of our nation to the world. Our International Engagement strategy, economy seeking new investments into our city. Cambra is home to australias best educators, wealthiest, healthiest, longest living and happiest australians. [laughter] we arenational capital, of course home to the australian government. One in three constituents works for the Prime Minister, bringing benefits, exemplified through partnerships in the space industry, for example. Where the world sought Neil Armstrong walk on the moon, courtesy of the deep space tracking center in cambra. Those first images were beamed cambra. He world from Wifi Technology was developed cambra. Alia in the to five universities, institute of technology, we are the education capital. We need investment to grow we have the great advantage. Is my aim to be the most innovative government and australia to weekly implement new Public Policy, through many different programs, including infrastructure investment, financing, land value capture. A the best examples of Public Policyustra that we are heard around the table todaylian we speak to lead our nation through good policy. Thank you for the opportunity to say those words today. [applause] thank you chief minister. We truly appreciate your attendance. Minister, will you aboutout your remarks, how the Northern Territory is revitalizing . Thank you, governor. Most americans would know the Northern Territory, of the national parks, the setting of the crocodile dundee movies. To get morertive americans to visit our great country. I want to start with, thank you. I called darwin, the capital of the Northern Territory, home. We commemorated the bombing of darwin. 26 years ago, the same fleet that bombed pearl harbor bombed us. 200 people died that day, nearly half american. I called darwin home. The sacrifices of Young Australians and young americans. On behalf of the Northern Territory, thank you for defending our country in world war ii. [applause] just as america realize the Strategic Value of darwin, you do today. We have the Marine Rotation through darwin, existing between our countries as well. Darwin is at the top of australia. It is easier for us to get to indonesia, vietnam, the philippines, singapore, we are engaged with asia. We are a huge landmass, twice the size of texas with only 1 of the population. The Prime Minister and governor sandoval mentioned trade. I do a lot of work through the asian region, particularly to with aportunities, constant message. People want it to be easier to invest across state boundaries with greater certainty, on how we Work Together within australia. I have taken that on board. We had the first ever joint Cabinet Meeting in australia. My government sat down with a south australian cabinet. We sorted out issues across state borders. I put that same offer on the table, to the premiers. Can, move our country properly and Investment Opportunities are easier for companies. That is an important message. That is what i am hearing. Regina to innovate, how we do government to make it even easier for people to invest. Thank you. [applause] gov. Bullock thank you, chief minister. Now, and opportunity for the governors to have an exchange and dialogue with the premiers. I will ask my vice chair to ask a question. Thank you for being here. This is significant and i recognize it is historic. It is great to have the Prime Minister here. For any of you, as we talk about the opportunities, at a subNational Level, certainly that we have 50 diverse states, all of fort opportunities for enhanced relationships all afford opportunities for enhanced relationships with you. We signed a memorandum of agreement between our respective organizations. What suggestions do you have to further enhance the state or subnational relationships between where you govern and where we govern . From New South Wales, in terms of deepening our relationship, if there is a particular policy idea or initiative, i would like to have a buddy system where we can spend time in jurisdictions and dive into policies or a particular delivery method we can apply to our own. Today is the start of deepening that relationship to have true partnerships in the future. Policy, incorporating, where we can improve the lives of citizens. From a west australian one of you, a west Australian Point of view, amazingly, we do not have any relationship with any state in the United States. Those sorts of arrangements, enhance that cooperation and exchange of ideas, cultural and social activity, educational cooperation with students from each jurisdiction. Those sorts of things, im interested in. Ive had a conversation with the governor of texas about texas, a third the size of Western Australia, joining in a relationship. Those are very beneficial things. Organizing one. That is the sort of thing Western Australia thanks would help. Thank you. Were there any other premiers who wished to respond . Can i add. . We have a significant market presence with office and staffs in boston, new york, washington, san francisco. A significant in that market presence. That is more geared toward relationships between service providers, businesstobusiness. Maybe there is an opportunity for us to have better government to government relationships through those principally in market trade staffs. Maybe we can make good policy exchanges through that. Governor . By the comments some of you have made about the privatization of certain public assets. This is something that has been talked about in large measure in the u. S. There is not been much progress made on this runt. We can on this front. We could learn from you. A couple of you spoke about it although perhaps all of you have experience. If you could give us insight into, when did this process begin . Who were the strongest advocates for . Who were the greatest opponents of . Are there any restrictions as it would relate to who the acquirers of certain assets might be . Any advice or inset at 30,000 feet would be helpful. I might step in first if that is ok . In New South Wales we started the process in earnest five years ago. The biggest challenge is bringing the community with you. What we said to the community, instead of owning a telegraph pole, you can earn and own a school, hospital, road. Having an asset the private sector could run better was of no use to the community. We would be better off taking that capital up front and investing in things the community needed. That policy went to an election. We had a mandate. We recycled assets in relation to the this tradition network, our land title office, are pension fund, government should not be running. What we did, make sure government is a strong regulator. The Community Needs to know the government has responsibility for making sure essential services and infrastructure run properly. If you can ensure the community has a strong framework, the investment, the capital from 19erm leases, i99 year lease, we said to the community, we are better off using that capital upfront to invest in things you need. Aat allowed us to deliver, pipeline of 80 billion worth of infrastructure. The economy is growing fast. People are seeing the benefits. Theyre excited they get a new school, hospital, road, as opposed to lack of visibility on assets. Good follow. Predetermined, that the resulting sale would be proceed . Absolutely. Was that done legislatively . No but we took it to an election. The important thing is, we used to hear in other jurisdictions around the world, people used to recycle assets to retire debt. That does not work. You need to reinvest in the community and grow the Balance Sheet which is what we had done. Net worth as a state, going to grow by 40 because the investment in infrastructure triggered private investment. The Business Community is excited. Theyre investing. It is really allowing our state to have the biggest boom in infrastructure we have had. Our experience is very similar. If you own an asset, that has a significant capital value, there is no good Public Policy reason for it to be in public hands, that money is essentially being wasted. It can be repurposed, provided you get the Regulatory Framework right, the industrialization, Labor Relations right, dont compromise the core purpose, you can put the money to better use. This for us is like, borrowing as well. Mobile, people want progress, weather infrastructure at a local scale or better transport. The only way is to borrow more, in a mature way. We all guard the Credit Ratings we have, im sure all of us do. There are limits to how much you can borrow. If you have assets that dont seem to be in the books, we had a public debate, me to this policy to the election government at the time, that mandate, to do it, we got a good price and we were very clear about how it would go. It is part of an infrastructure agenda that has 65,000 victorians in work. If you lay the case, if youre clear about what your intentions are, you can bring the community with you. One final followup. If the government of china, wanted to buy your port, what would preclude that . [laughter] i should talk about that. That example. I prefer lessons learned. If a Chinese Company bought it, mbridge, the port sold to a Chinese Company. Asset, usedic properly and economically, the company carries 10 . We now have a 20 stake in the port. We have directed say over the appointment of the ceo, the cfo, and the coo. If they make changes, we get a say in the board. We have much greater say and decisionmaking. That provides more confidence. Utilities commissioner, regime around pricing, regulatory side. Changes, a lot more confidence to people who were worried about how the port was managed. You have to retain some level of state as a government. It, gotit, or leased the money, that the premiers are talking about. We got, but you have to have the level. Australia,ce in states are responsible for managing assets and infrastructure. Foreign investment review board which the government runs, has strategic responsibility to tick any Foreign Investment. Before we lease the asset it has to go through the board. Some assets, local Pension Funds, we are able to center that locally. Asset, thestrategic National Government, gives out confidence, there is that framework in place. Chinaend positive, the Sovereign Wealth Fund is a significant part of the consortium. That is a rigorous process. It is not run by the states, it is run by National Level as it should be. It delivers good outcomes. There are others who have different views. We get the job done. Do you have a stake . We would be consulted but nothing more than that. It is run against other Strategic Imperatives that have to operate nationally. Questions from governors for the premiers . I will ask. I have been impressed, with the fact that australia has enjoyed 25 plus years of prosperity without a recession. Im curious, what you attribute that to, and what is your biggest challenge in each of your respective estates . Thank you, governor sandoval. The biggest challenge is sustaining growth and preparing future employees for job skills and training. Generally speaking, our infrastructure, are strong budget position, allows us to be in a position to continue to grow. Our biggest challenge is making sure we have the skills, the right skills, for the jobs of the future. Will be working in jobs we have not thought about it. Were focusing on education. That has been able to sustain our economy, it is being early adoptive of technology, first movers. My state is focusing on jobs and skills, attracting that investment to continue to grow our economy. We also managed to reduce taxes in the last 2 budgets. Allowing the community to flourish. Jobs and skills, education, moving forward. To attribute our nations success, what happened in the 1980s, we had a reformist National Government called, removing trade barriers that we had built up over many years, deregulated a range of sectors, in particular banking. Floated the australian dollar. From that point forward, our economy boomed in areas we are good at. In Western Australia, my stay, the Mining Industry did well. Successful, very miners on a world scale that export not only to the region but principally to the region but around the world as well. Thing,s to say, the one the Biggest Issue for me, the flipside of that, the economy is very focused on one industry. That is important. We need to diversify our economy into other areas. Im talking to people about tourism, defense, all the other sectors of the economy, innovation, Western Australia has the skill space, primarily engaged in mining, but we would like to see a broadening of the economy. If you have investment you want to put into a successful place with a nice lifestyle, send your staff somewhere where they do not want to come home again, send them to Western Australia. He will be able to divest yourself of staff that might be problematic. [laughter] business in a welcoming, decent place to live. Observe, the success in the australian economy, a large degree bipartisanship on key economic settings over three decades. Weferent sides of policy, have many things to argue about. Weather has been consistency, has been in pursuit of free in establishing consistent regulatory policy settings in so many sectors of our economy, and in spite of some of the competitive federalism, zero the table weay, mostly in good humor, are able to Work Together effectively. To achieve a range of national challenges, most of us are experiencing the pains of growth. Economics is dismal and there is always a downside to wear your economy is that but for many of us, challenges of near full employment, skill shortages, in some instances, it is needing to attract capital to Certain Industries that need to diversify. A, weituation in canberr have no natural resources. We are entirely service based. That represents a wonderful opportunity for us. Were only, about 1. 7 of the population, we now generate 3 of the Nations Service exports. That approach, export focused approach, generating jobs. Being home to the government, is a wonderful boost. I want to thank all the premiers for being here. As the Prime Minister a looted, luded i had the great honor to serve at a Australian Software company, which holds the record of having the most successful ipo on nasdaq of any Australian Company. Friends, now a market cap of over 12 billion, employs close to three million people. The importance of skills and workforce, a digital transformation, a few clicks deeper on ideas you might have for us in terms of how you are building out appropriate skills, recruiting and retaining talent. When we were building, we were constantly challenged by having the right kinds of skill sets, also, congratulations to the university system. Decidedt of university, to start this company and what an amazing job we have done. Governor, we love that. A great contribution to New South Wales. What we have done as a government, we have put in funding to adopt premises in the d, to encourage collaboration between the tech sector. We recently set a hub in New South Wales, 11 floors. Were seeing Startup Community members, now adopt that place. Essentially, any person in our state who has an idea makes their pitch to a global brand. Microsoft chosen city as the eighth place in the world to set up in this hub, because of the innovative way we have done that. Other ways, we are using the intellectual property in those organizations to help reduce back office cost in government. We consolidated that operation, we can invest more money in the front line. Leveraging, these great people in the private sector to drive down costs to provide Better Services as well. Thank you. Any other questions for governors . Pleaseand gentlemen, join me in thanking our premiers and chief ministers for joining us today. [applause] as we wrap up the first session, i want to turn to the topic of technology and innovation, the theme of the initiative, ahead of the curve, innovation governors. In keeping with the theme you will see the topic of innovation discussed through our meeting. I will offer an update on innovation tomorrow, it will feature a fireside chat with ibm ceo, for a chance to discuss how we can prepare our states for the ongoing technology transformation. That is not all. We want to make sure you all had a chance to experience Technology Innovation firsthand. With special help from the Consumer Technology association, the organization that brings cs to las vegas, nevada every year. Hundreds of thousands of people come every year. Im very excited to announce we have brought a small example of cs to all of you today. In the exhibit space just outside this ballroom, nga has created the cs start up allie. It features start up alley. I invite all of you, take some time to check out the exhibits, meet some entrepreneurs and learn stories. They represent companies from california, illinois, and in keeping with our International Theme that include, an Australian Company with offices in california and new york. Take some time to check out what they are doing over there. Thank you again for joining us. This session is now closed. Thank you. [applause] [no audio] [no audio] [no audio] [inaudible] state governors from across the country had just wrapped up their first session for the National Governor Association Winter meeting in washington dc. They talked about international relations. Later today, they talk about the Opioid Crisis and the future of agriculture. We will bring you their discussions live at 1 45 p. M. Eastern right here on cspan. You can watch the governors first meeting, that just wrapped up on our website, www. Cspan. Org. Today, joined cspan live at 12 40 p. M. Eastern for the Political Action conference. Budget director Mick Mulvaney will be there to discuss the second amendment. Later an address from california congressman and House Intelligence Committee chairman devin nunes. Live coverage begins at 12 40 p. M. Eastern right here on cspan. Scott pruitt cpac, talked about regulatory reform. It was good to get that right. We are all
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