Manufacturing News

Foreign investment to help create level playing field for global trade

Australia is to help to create prosperity through socioeconomic development by supporting developing countries to better capitalise on global trade says the Export Council of Australia (ECA). 

Today’s announcement of Australia contributing $6 million to support developing countries will not only help reduce poverty and build resilience but will also greatly assist Australian companies by providing more opportunities for global trade.

Chief Executive Officer Lisa McAuley says Australia’s commitment to help developing counties to increase their trade abilities is also about helping Australian companies by making it a level playing field.

“The ECA fully supports and endorses the recent package, in fact, our company Chair is currently in Nairobi as part of the World Trade Organization (WTO) talks.

“It’s extremely important that countries such as Australia can provide this support for developing countries as it allows us to better capitalise on sustainable development and prosperity for strong economic development.

“For more than 60 years the ECA has been involved in developing the capabilities and capacity of companies to engage in global trade so we are delighted to see Australia invest in other countries, Ms McAuley said.

Director for the ECA Andrew Hudson says we are delighted with the announcement that Australia is investing $3 million in the Global Alliance for Trade Facilitation. 

The ECA has been an active supporter of Australia’s engagement with the WTO Trade Facilitation Agreement and is a member of the National Committee for Trade Facilitation which has been established by the Australian Government.

We also see this additional financial commitment and the practical support for the Alliance as a vital aspect to securing the aims of the Agreement and look forward to continuing to work with government on the proposed outcomes and ensure that global trade is improved and facilitated, Mr Hudson said.

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