Cross Portfolio
Australia-China Free Trade Agreement — funding for negotiations
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | |
|---|---|---|---|---|
| Various Agencies | 5.6 | 6.0 | - | - |
| Related capital ($m) | ||||
| Department of Foreign Affairs and Trade | 0.1 | - | - | - |
The Government will provide $11.7 million over two years to facilitate negotiation of the Australia-China Free Trade Agreement. In addition to supporting direct negotiations, the funding will enable further consultation with industry groups and allow for an exchange of information with Chinese representatives.
The negotiations follow the completion of the joint free trade agreement feasibility study. The successful conclusion of a free trade agreement will provide improved access for goods, services and investment. The timing of the decision to proceed to negotiations precluded consideration in the 2005-06 Budget process.
This amount includes $80,000 in capital funding to establish a dedicated office within the Department of Foreign Affairs and Trade.
Further information can be found in the press release of 18 April 2005 issued by the Prime Minister.
Official Development Assistance — additional funding
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | |
|---|---|---|---|---|
| Various Agencies | * | * | * | * |
The Prime Minister announced the Government’s goal to increase Official Development Assistance (ODA) to about $4.0 billion per annum by 2010. This is consistent with Australia’s long and proud record of assisting developing countries and reflects the Government’s commitment to continuing to meet its share of the aid effort. This increase is conditional on the performance of partner governments and institutions, including strengthened governance arrangements and a reduction in corruption in recipient countries.
This increase will be delivered through a number of departments and agencies, including the overseas aid programme administered by AusAID. ODA will continue to be subject to annual review, taking into account the effectiveness of the application of the additional resources.
A provision has been made in the Contingency Reserve for the additional funding, with the details of specific commitments to be announced in the future. A White Paper on aid is currently being prepared and decisions about further aid allocations will take close account of the White Paper’s conclusions.
Further information can be found in the press release of 13 September 2005 issued by the Prime Minister.