Tony Abbott: G20 trade deals should focus on global picture

PRIME Minister Tony Abbott has told international business leaders that new trade deals should not be a trade-off, but rather focus on the global picture.

Mr Abbott addressed the B20 in Sydney this morning, ahead of a gathering of G20 finance ministers preparing for the G20 meeting in Brisbane later this year.

After setting an economic growth target of 2% for all G20 nations, Mr Abbott said the critical test of trade policy was "whether it helps business in the real world".

"We need to lose the mercantilist view that a 'concession' in trade negotiations can only be granted for something given in return," he said.

"Trade liberalisation is worth doing, even unilaterally, because free trade means more efficiency; more efficiency means more wealth; more wealth means more jobs."