Australia’s Joint Standing Committee on Foreign Affairs, Defence and Trade has released its report on the role of the private sector in promoting economic growth and reducing poverty in the region. The report was developed in the context of Australia’s new aid policy, launched in 2014, which has a stronger focus on private sector development and private sector engagement.

The report identifies the UN Global Compact as a key framework in this space, with its recommendations including that DFAT:
ensure staff have an expert understanding of the UN Global Compact and the Women’s Empowerment Principles (a joint initiative of the UN Global Compact and UN Women); and
be able to identify opportunities and connect businesses in Australia and overseas to global platforms, processes and frameworks, for example, the UN Global Compact.

Download the full report here.

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