Today we announce Australia will contribute $6 million to help developing countries make the most of opportunities in the global economy. This “aid for trade” investment will help boost trade and encourage economic growth among our development partners.
The Australian Government will provide $3 million to the Enhanced Integrated Framework (EIF) of the World Trade Organization (WTO). The EIF helps least developed countries identify and implement significant projects that will enable trade.
The EIF has brought considerable benefits to our region. It has revitalised agriculture in Samoa, generated export growth in Cambodia and assisted Vanuatu to become a member of the WTO.
We will also invest $3 million in the Global Alliance for Trade Facilitation. The Alliance will be a partnership with business helping developing countries move goods across borders more quickly and efficiently.
Australia is on track to meet its target to invest 20 per cent of the total aid budget in aid for trade projects by 2020. Our aid for trade investments increased to $823 million or 16.4 per cent of the aid budget in 2014-15, up from 12.8 per cent in 2013-14.
Australia’s aid for trade initiatives help developing countries create sustainable economic growth that will reduce poverty and – over time – become less reliant on Australian development assistance.
Minister Robb is in Nairobi, Kenya at the WTO’s Tenth Ministerial Conference. While there he co-chaired the EIF pledging conference.
- Minister's office: (02) 6277 7500
- DFAT Media Liaison: (02) 6261 1555