AusAID’s 2012 Consultative Forum with Business
21 August, 2012
Michelle Araea and Elva Churem were among the first students of the Australia Pacific Technical College when classes began in Port Moresby in 2007. Photo: Rocky Roe / AusAID
More than 130 company executives and international development experts gathered at AusAID’s Consultative Forum with Business in Canberra for the launch of the aid program’s Private Sector Development Strategy.
The strategy makes it clear that without private sector led growth, countries cannot prosper and overcome poverty. It also provides a framework for how AusAID will shape Australia’s aid program to support the emergence and growth of the private sector in developing countries, and how AusAID will work with the business community to achieve this.
The forum fulfils a key commitment in the Australian Government’s aid policy, An Effective Aid Program for Australia, which is to place greater emphasis on private sector development and engaging with Australian business. The theme of the event was Innovations in Development: New ways of working together.
There are clear benefits for AusAID in working with the Australian business community. AusAID can deliver aid more effectively by drawing on the expertise and resources of businesses who are already active in the region. Supporting private sector development will ensure that Australia’s aid investment results in ongoing and sustainable change.
There are also good reasons for the business sector to be playing a greater role in development. Improved dialogue with AusAID provides an opportunity to work together to advance the operating environment for business. AusAID has extensive experience building environments which support the growth of the private sector, including improving infrastructure, fostering a better regulatory environment and assisting with economic and financial reform.
AusAID also works with many partners from civil society and multilateral organisations to improve infrastructure, education, health, financial inclusion and empowering women to provide the right conditions for economic development.
Key highlights of the forum included:
- the Minister for Foreign Affairs, Senator Bob Carr, launching the Private Sector Development Strategy and reaffirming the Government’s commitment to closer links between business and the aid program
- presentations from a number of high-profile business and development leaders including Rio Tinto Australia’s Managing Director, David Peever, and the International Finance Corporation’s Vice President for the Asia Pacific, Karin Finkelston
- a panel discussion on areas of common interest between business and the aid program to identify practical areas for future collaboration.
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Last Reviewed: 21 August, 2012