This week marks the one-year anniversary of the establishment of the First Nations Economic Partnership, which is advancing reforms to strengthen First Nations economic participation, empowerment and shared prosperity.
In its first year, the Economic Partnership has focused on ways to improve access to capital for First Nations organisations and projects, funding reforms for Prescribed Bodies Corporate, growing employment in the community-controlled sector and exploring First Nations led Economic Inclusion Zones.
It is providing advice to Government on these issues to support local economic development, unlock opportunities and address barriers to participation.
This builds on Government initiatives to boost First Nations economic participation, creating 6,000 jobs with real wages and conditions for people living in remote communities through the Remote Jobs and Economic Development program, and providing strategic grants for Prescribed Bodies Corporate to help unlock the economic potential of Native Title land.
The Partnership brings Government and First Nations representatives from the Coalition of Peaks and the First Nations Economic Empowerment Alliance together in shared decision-making, ensuring economic reforms are shaped by First Nations knowledge, experience and aspirations.
The Partnership demonstrates the Albanese Government’s commitment to the Priority Reforms of the National Agreement on Closing the Gap. Through genuine partnership and shared decision-making, greater investment in the First Nations community-controlled sector, and transforming mainstream systems, it is helping create more opportunities for First Nations people, businesses and communities.
Quotes attributable to Treasurer, Jim Chalmers:
“This Partnership is about recognising and realising the economic potential of First Nations communities, not just as participants in our economy but as partners in our shared prosperity.
“Our economic agenda is all about building a stronger, more productive and resilient economy. Backing First Nations businesses, jobs and skills is a central part of that – because we know our economy works better when everyone has the chance to succeed.”
Quotes attributable to Minister for Indigenous Australians, Senator Malarndirri McCarthy:
“The First Nations Economic Partnership is about walking alongside First Nations people and supporting the economic aspirations they have for themselves, their families and their communities.
“Working in genuine partnership means listening to First Nations communities and organisations and working with them to create real opportunities.
“One year on from signing the First Nations Economic Partnership, it’s encouraging to see this work moving forward towards building strong economic futures for First Nations people.”
Quotes attributable to Lead Convenor of Coalition of Peaks, Donnella Mills:
“Aboriginal and Torres Strait Islander people have been clear about what is needed to drive our economic prosperity: strong community-controlled organisations in different sectors, thriving First Nations businesses, secure jobs and careers, and the power to shape our own economic futures.
One year on, the Partnership is working hard to shape the delivery of those priorities, including practical proposals for secure jobs and career pathways that grow Aboriginal and Torres Strait Islander community-controlled sectors, alongside work to strengthen First Nations businesses and improve access to capital and investment.
For the Coalition of Peaks, the opportunity now is to pull the government levers to bring these proposals to life, supporting career progression and delivering jobs in our local communities supported by our ACCO Registered Training Organisations.
Through the Priority Reforms of the National Agreement on Closing the Gap we are working with government to create the conditions for thriving First Nations economies and prosperity for generations to come.”
Quotes attributable to First Nations Economic Empowerment Alliance Chair, Professor Peter Yu:
"Building an Indigenous-specific fiscal and financial architecture under the National Economic Partnership Agreement signed last year will be the critical foundation for change from managing trauma and poverty, to intergenerational wealth creation and transfer.
Only by being active and equitable participants in the economy will Indigenous peoples achieve economic equity and empowerment. The First Nations Economic Empowerment Alliance welcomes the Government’s continuing commitment to progressing this critical national policy."