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Australia assists least developed countries to benefit from the global trading system under WTO's EIF
20 July 2011
Australia will contribute $2 million under the World Trade Organization’s Enhanced Integrated Framework (EIF) to assist the world’s poorest countries to integrate into the global trading system.
Foreign Affairs Minister Kevin Rudd and Trade Minister Craig Emerson announced the contribution in connection with the Third Global Review of trade-related development assistance (Aid for Trade), held at WTO headquarters in Geneva on 18-19 July.
Dr Emerson added: "Our provision of trade-related development assistance also reflects our view that a strong multilateral trading system is essential for economic stability and global prosperity."
The Ministers welcomed the focus of the global review on demonstrating the results of aid. This included improved measurement of the impact of trade-related development assistance on growth and poverty reduction.
The EIF benefits 47 least-developed nations, including important regional partners for Australia such as Cambodia, East Timor, Laos, Kiribati, Samoa, Solomon Islands, Tuvalu and Vanuatu.
In addition, Australia will finalise arrangements this month to become the 41st member of the Advisory Centre on WTO Law (ACWL), a Geneva-based intergovernmental organisation that provides training and legal services to developing countries. Australia made a $3 million contribution to ACWL in 2010.
Source: InvestinAustralia.com
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