Australia's New Government Will Round Up A Council Of Investment Bankers To Advise On Business Policy

Andrew Robb and Joe Hockey, releasing the Coalition’s costings before Australia’s September 7 election. Photo: Getty/ Scott Barbour

Australia’s new minister-designate for trade and investment Andrew Robb has said experienced investment bankers and businessman will be found for an advisory board on business policy.

Robb’s office confirmed the Coalition would re-establish Invest Australia, as well as assemble a ministerial council on trade and investment, after it was reported today.

“People with strong investment banking experience or out of companies, they might be on a three-year secondment,” Robb told the Australian Financial Review.

Individuals from the private sector, according to the report, would work with Robb’s office and the department and investment stakeholders, advising both parties.

Those chosen will reportedly make suggestions to the newly-appointed minister which he can then take up with industry. “We are going to find solutions which which respect the sensitivities but also work for the investor,” Robb said.

Robb also said they would have offices within the government department Austrade, but would not be a “big bureaucracy”.

“They will be (sic) very highly commercially experienced team who will assist me and the department with facilitating — and many of these will understand cultures from a commercial point of view from the region — looking with a very commercial eye how we can bring the parties together.”

It is unclear whether any potential candidates have been contacted yet. Business Insider has approached Robb’s office for comment.

Now read: Aussie Dollar Rally: Here’s What To Watch This Week

Follow Business Insider Australia on Facebook and Twitter

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.