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AUSTRALIAN LABOR PARTY TO PUMP US$7.52 MLN INTO EXPORT GRANTS.
CANBERRA, Nov 1 Asia Pulse - The Australian Labor Party (ALP) will pump A$15 million (US$7.52 million) into export development grants and set up an agriculture trade task force under its new trade policy.
ALP trade spokesman Peter Cook said the federal government had taken its eye off multilateral trading arrangements and ignored key markets such as China, Japan and India.
He said Labor would develop a long-haul strategy to strengthen Australia's links to emerging economies in Asia, while giving priority to a new round of World Trade Organisation (WTO) talks.
But the policy refuses to pledge contituation of talks with the United States over a free trade agreement.
In a speech to the New South Wales (NSW) branch of the Australian Institute of Export, Senator Cook said the government's trade policy - released last week - did not have a core strategy.
"It lacked coherence around an organised theme and it didn't recognise the need to take immediate steps to position Australia more effectively as the world teeters on the brink of a global economic slowdown," he said.
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Source: HighBeam Research, AUSTRALIAN LABOR PARTY TO PUMP US$7.52 MLN INTO EXPORT GRANTS.