On 16 December 2015, Ministers Bishop and Robb announced that Australia will contribute $6m in aid for trade investments to help boost trade and encourage economic growth in developing countries. Joint Media Release: Aid for trade driving growth in our region
Australia has joined the Global Alliance for Trade Facilitation (“the Alliance”) to assist developing countries and least developed countries implement reforms reducing red-tape at borders to make trade easier, quicker and less costly for businesses of all sizes. Global Alliance Launch Statement
Minister Robb and Minister Bishop announced Australia’s commitment of $3m (2016-18) to the Alliance, coinciding with the WTO’s Tenth Ministerial Conference held in Nairobi, 15 - 19 December 2015.
The Australian Government will also provide $3m to the Enhanced Integrated Framework (EIF) of the World Trade Organization (WTO). The EIF helps least developed countries identify and implement significant projects that tackle supply-side constraints to trade.
In 2014-15, Australia’s aid for trade investments increased to $823m, or 16.4% of the aid budget, up from 12.8% in 2013-14.