Joint Media Release with The Hon Simon Crean, Minister for Trade
12 November, 2009
Australia supports trade and development in APEC
Australia will provide $4 million for aid-for-trade initiatives to assist developing economies boost their participation in international trade.
Trade and economic growth remain the most effective means to address poverty and developing APEC economies want to increase their engagement in trade liberalisation efforts.
This Australian development assistance is designed to help developing economies better engage with the multilateral trading system and regional trade initiatives.
$3 million will be provided to train officials in regional economies on WTO law and will be provided through the Advisory Centre on WTO Law.
A further $1 million will be allocated from the AusAID APEC Public Sector Linkages Program (PSLP) for development activities that support APEC’s objectives of trade liberalisation and facilitation.
Activities funded under the PSLP will help economies improve regulation, and reform bureaucratic processes that inhibit trade.
APEC’s 21 member economies are home to more than 2.7 billion people and represent approximately half the world’s GDP and trade.
Media contacts
- Mr Smith's office 02 6277 7500
- Departmental Media Liaison 02 6261 1555