AUSTRALIA COMMITS A$2 MILLION TO APEC INVESTMENT AND SUPPLY CHAINS

MELBOURNE, June 7 (Bernama) -- Australia has committed A$2 million over two
years for programmes that promote investment and stronger supply chains in
developing APEC economies.

"This scheme will support public sector bodies and public universities to
directly assist developing economies in the Asia Pacific region," Foreign
Minister Stephen Smith said in a statement.

Australian business will also benefit from more robust and transparent
policies, regulations and processes for their foreign investment activities.

"The initiative reflects greater focus on investing in regional production
and supply chains.

"It also demonstrates how the private sector is engaging with the
region broadly, beyond the traditional model of "build and ship" trade,"
Trade Minister Simon Crean said.

Crean was in Sapporo, Japan attending the APEC Trade Ministers' meeting.

The funding for the programmes will contribute to APEC's goal of regional
economic integration.

It will directly benefit developing economies in the region, by improving
their ability to attract and sustain foreign investment.

It will also complement efforts to help developing economies increase their
resilience to turbulence in financial systems.

The A$2 million will be allocated from the AusAID-Administered Public Sector
Linkages Programme (PSLP), which provides grant funding to further APEC's
mandate of facilitating open and secure trade, investment, development and
growth in developing APEC economies.

Preference will be given to projects that target more than one developing
APEC member economy.
-- BERNAMA


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