We recently made a submission to an Australian Parliamentary Committee inquiring into the role of the private sector in promoting growth and reducing poverty in the Indo-Pacific region.
Our submission sets out our views on how Australia's aid program can foster a productive private sector in countries receiving aid. A vibrant private sector that encourages investment and entrepreneurship, creates jobs and contributes to increased living standards.
We suggested Australian business can add value to aid activities which support growth, particularly in areas such as natural resources and energy, food and agriculture, and health and education services. These are fields where Australian expertise complements identified needs in partner countries. We also suggested aid be targeted towards developing more open markets and trade. Trade generally creates jobs, increases investment and contributes to poverty alleviation.
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