Treasurer Scott Morrison says Australia needs to focus on traditional strengths such as mining to develop the technology and skills necessary to secure jobs in the long term.
Mr Morrison told a banking and finance summit in Sydney that scientific and technological advances had to be applied practically to benefit the economy.
"It is about applying technology and research to our traditional economic strengths - mining, agriculture, the medical industry and financial services - to create and secure more real jobs in these areas and beyond," Mr Morrison said.
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