I am pleased to announce an additional $1 million for the Commonwealth Trade and Investment Access Facility (TIAF), bringing Australia';s support for the Facility to $3.5 million since 1997.
The benefits of trade and investment liberalisation to developing countries are clear. Integration in the global economy is essential for developing countries to achieve sustainable economic growth and poverty reduction.
The TIAF is playing an important role in helping Commonwealth developing countries identify, manage and benefit from the economic and social impacts of increasing world trade and investment liberalisation.
Key activities include the provision of technical advice through workshops and an on-line briefing service for trade officials. On-the-spot assistance is also provided to Commonwealth Ambassadors in Geneva attending trade related meetings and negotiations.
The TIAF helps developing countries participate in international trade agreements such as the World Trade Organisation (WTO), including legal drafting assistance and detailed briefings on WTO issues.
These activities are improving Commonwealth developing countries'; trade policy capacity and engagement with regional bodies such as the Pacific Island Forum.
This new contribution is part of the Australian Government's broader $31 million package of trade-related assistance in 2003-04. Australia';s trade assistance has increased by more than 70 per cent since 1996-97 and has responded quickly and positively to the needs of developing countries.