Sydney, Australia

Damien Barnes recently had the privilege of attending the APEC Ministerial Dialogue as the Australian Indigenous Co-Representative of the Indigenous Peoples Economic and Trade Cooperation Arrangement

Damien Barnes recently had the privilege of attending the APEC Ministerial Dialogue as the Australian Indigenous Co-Representative of the Indigenous Peoples Economic and Trade Cooperation Arrangement

YIMBA’s Managing Director, Damien Barnes, recently had the privilege of attending the APEC Ministerial Dialogue as the Australian Indigenous Co-Representative of the Indigenous Peoples Economic and Trade Cooperation Arrangement (IPETCA) with fellow Co-Representative Leah Armstrong.

Indigenous Businesses in Australia generate approximately $16 billion in revenue, $4.2 billion in wages and nearly 117,000 jobs across roughly 14,000 businesses. International Indigenous Business trade is growing rapidly with Australian Indigenous Business exporters earning more than $670 million in 2022–23. Indigenous Businesses also employ more than twelve (12) times more Indigenous workers than non-Indigenous businesses.

IPECTA seeks to empower Indigenous peoples economically and facilitate inclusive trade for Indigenous businesses in international markets. This includes connecting, collaborating, and building upon the work being undertaken by Australia, New Zealand, Canada, Chinese Taipei, APEC, WTO, WEF, and OECD (and other international trade related bodies) to assist Indigenous Businesses with international trade.

Some of the work being undertaken by IPECTA includes:

– an Indigenous Trade Policy Compendium that brings policies and programs together across participating economies;
– targeted trade missions and internships that build export capability and business networks;
– practical webinars on environmental best practice, carbon credits and biodiversity credits; and
– embedding Indigenous trade into free trade agreements.

APEC is also contributing to international Indigenous Business trade, including:

– the Business Advisory Council elevating inclusive growth and climate-finance pathways for Indigenous exporters and value chains;
– the Small and Medium Enterprises Working Group scaling capability with the Growing Indigenous Businesses Through Trade Project, with tailored training this year in the Philippines and Papua New Guinea; and
– the Committee on Trade and Investment has mapped measures across connectivity, intellectual property and traditional knowledge, sustainability and climate for Indigenous Peoples.

Australia is also moving at home, including:

– the First Nations Economic Partnership shares decision-making on economic policy with First Nations leaders;
the pilot First Nations Trade and Investment Advisory Group is embedding –

– First Nations perspectives across international trade and foreign investment policy; and
– the Australia–United Arab Emirates Comprehensive Economic Partnership Agreement recently entered into force and includes a chapter on First Nations trade and cooperation.

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