In the recent recovery phase, uncertainty has attended the outlook for external demand due to factors such as the unpredictability of geopolitical developments and the surge in crude oil prices. Despite persistently high crude oil prices, there is less concern about the sustainability of overseas economic growth, and particularly the United States and China continue to expand steadily.
So there is value in sharing information about best practice across countries. For example, during Australia's G20 presidency in 2014, a Global Infrastructure Hub (GI Hub) was announced, with an aim of, among other things, sharing guidance on best practices.