Australia in APEC aid for trade deal
Australia will contribute $4 million to APEC’s aid-for-trade initiatives, designed to encourage emerging economies increase their participation in international trade.
Minister for Foreign Affairs Stephen Smith announced the funding after the APEC Ministerial Meeting in Singapore last week, acknowledging that trade and economic growth were the most effective means to address poverty.
In a statement, he said: “This Australian development assistance is designed to help developing economies better engage with the multilateral trading system and regional trade initiatives.”
Of the amount, $3 million has been allocated to train officials in regional economies on World Trade Organisation law. The remaining $1 million is for development activities that support APEC’s objectives of trade liberalisation and facilitation, administered through the AusAID APEC Public Sector Linkages Program (PSLP).
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