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In retirement Fraser served as Chairman of the UN Panel of Eminent Persons on the Role of Transnational Corporations in South Africa 1985, as Co-Chairman of the Commonwealth Group of Eminent Persons on South Africa in 1985 – 86, and as Chairman of the UN Secretary-General's Expert Group on African Commodity Issues in 1989 – 90.
He was a distinguished international fellow at the American Enterprise Institute from 1984-86.
Fraser became president of the foreign aid group Care International in 1991, and worked with a number of other charitable organisations.
In 2006, he was appointed Professorial Fellow at the Asia Pacific Centre for Military Law, and in October 2007 he presented his inaugural professorial lecture, " Finding Security in Terrorism ’ s Shadow: The importance of the rule of law ".

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