Federal Trade Minister Don Farrell told the American Chamber of Commerce (AmCham) event in Brisbane this week that he was confident higher numbers of international workers would begin flowing through the Australian workforce as a result of getting the visa paperwork up to date.

He said the backlog inherited from the previous government had required a contract workforce of 500 people to complete the emergency intervention.

“It’s hard to believe we could have been so far behind,” he said.

“At this point in time, we’re almost back to where we want to be.”

Farrell’s comments came on the same day as the Australian Bureau of Statistics released data showing Queensland’s workforce grew by 46,000 jobs last year, with a large proportion of the ranks filled by interstate and overseas migration.

While not elaborating on how many of those unprocessed visa applications had been approved, Farrell indicated the logjam had contributed to the country’s acute labour shortages after Covid, proving an “impediment to development and investment”.

“Had we had those million people in the country who wanted to come here then we could have provided much better service to our industries such as hospitality or in the trades,” he said.

Addressing a room full of Queensland business leaders, Farrell said current labour challenges had prompted a review of how the government would approach overseas migration and travel in the future.

“That’s being undertaken at the moment and I think you’ll be pleasantly surprised about what comes out of that process,” he said.

Fresh from meetings with state trade ministers in Townsville and achieving a possible breakthrough on alleviating restrictions on barley and wine exports to China, Farrell said agreements had been struck to take a ‘team Australia’ approach when pursuing trade deals overseas.

He said a new free trade agreement was in development with India and the EU, while FTAs were in the latter stages of being finalised with the UK and the US, ahead of President Joe Biden’s visit to Australia next month.

“We are about to seriously re-start American involvement in the region,” he said.

Joining Farrell in the AmCham panel discussion were Ord Minnett CEO and Brisbane Broncos chairman Karl Morris, Trade and Investment Queensland CEO Justin McGowan and Department of Tourism, Innovation and Sport acting deputy director general Gayle O’Brien.

McGowan said Queensland’s cohort of international students, currently numbering about 105,000, was an obvious target to lift overseas participation in the economy.

“About 17 per cent of overseas students nationally stay in the country after completing their qualification,” he said.

“There’s definitely an opportunity to grow that number.

“We need just to be louder and prouder of what we have to offer.”