Partnership fact sheets
Trade and development
Trade contributes to sustainable economic growth, development, prosperity and poverty reduction. No country has achieved high and lasting growth without participating in international trade.
However, many developing countries are unable to take advantage of trade opportunities, because they face considerable internal constraints such as: weak public sector institutions, including in formulating economic policy and regulations and negotiating trade agreements; poor infrastructure, including roads, ports and information and communications technology; and lack of private sector capability, including poor access to finance, distribution channels, and a lack of a skilled workforce.
Australia is making innovative and high impact aid for trade investments in developing countries that engage with the private sector, utilise new technologies and encourage market-based solutions. These include:
- Helping developing countries undertake reforms that attract, retain and extend investments, by supporting the World Bank Investment Climate Program;
- Facilitating and promoting small and medium enterprise (SME) access to trade finance from private banks through collaboration with the Asian Development Bank's Trade Finance Program;
- Building the capacity of women entrepreneurs, especially in the Pacific, to establish viable businesses in partnership with the International Trade Centre;
- Assisting developing countries to strengthen their intellectual property systems for increased innovation and investment through support of the World Intellectual Property Organization; and
- Building the capacity of developing countries to improve the services sector's contribution to their economies, as well as to negotiate services elements of trade agreements, by working with the Institute for International Trade (University of Adelaide) and the International Centre for Trade and Sustainable Development.
Read more about DFAT's investment priorities: Infrastructure, trade facilitation and international competitiveness