Historic Economic Policy Agreement Paves The Way for  First Nations Economic Reform

The First Nations Economic Empowerment Alliance warmly welcomes the announcement by Prime Minister Anthony Albanese today that his government has committed to an economic partnership agreement with the Alliance and the Coalition of Aboriginal and Torres Strait Islander Community-Controlled Peak Organisations. 

Professor Peter Yu, Vice-President (First Nations) at The Australian National University, who chairs the Alliance, said the agreement offers a real chance to cast off the shackles of welfare dependency, and create a new pathway towards economic independence and prosperity for First Nations people.

‘For too long our people have struggled to gain a foothold in the modern economy. This new direction recognises our potential to be significant contributors in the new and emerging economic landscape, Professor Yu said. 

‘That will not be achievable without new policy settings the economic partnership will deliver. It will require new thinking and practice by government departments and agencies, and broader engagement with the private sector. 

Executive member of the Alliance, Leah Armstrong, said that the economic partnership is a platform to advance comprehensive reform that elevates the interests of First Nations peoples and supports a stronger, more sustainable national economy.

‘The economic partnership, which the Alliance has been instrumental in negotiating, will underpin a relationship which will stimulate economic empowerment, self-determination and wealth creation for First Nations peoples. It will also support national economic outcomes, Ms Armstrong said.

The Alliance was established in 2023 and grew out of extensive deliberative dialogue and policy design process led by the First Nations Portfolio at ANU. It is an association of First Nations-led organisations and leaders with committed to advancing the economic rights and interests of First Nations people. This website charts its history: 

https://firstnationsalliance.org.au/

Professor Yu congratulated the Albanese government for its commitment to building the foundations of a new economic relationship with First Nations people. 

‘With trust and goodwill, this partnership agreement will serve to lift First Nations people out of the misery of poverty and rejection that has visited their existence for far too long. 

‘We all now have new horizons to aspire to.’

Media Contact: Murray McLaughlin 0429 153 363