UNITED NATIONS - / MaximsNews Network / - 03 December 2007 -- Business and government leaders of the 48 Commonwealth countries, including 36 Heads of State or Government as well as Queen Elizabeth II, met in Uganda from 23-25 November where the Commonwealth Business Council and its Director General and CEO, Dr. Mohan Kaul, outlined a comprehensive agenda agreed upon by the Commonwealth:

1. Trade Reform Given the current challenges to sustainable economic growth and imbalances in the global economy, it is vital that efforts are revitalised to conclude the stalled Doha Development Round of WTO negotiations. The CBC supports the conclusion of the Doha Development Agenda with broad and ambitious results so that the balance of concessions will encourage economic growth and significant opportunities for business in all WTO member countries. We also need to assist developing countries in strengthening their capacity to trade and take advantage of opportunities that will otherwise be wasted.
 
2. Climate change: we propose the establishment of a Commonwealth Carbon Trust to provide information and assistance to Member Countries and their private sector on measures directed to combat climate change. Financial instruments can also be developed to respond to emerging requirements in this area.

 
3. Enhancing Intra-African Trade: In order to achieve sustainable growth and poverty reduction, African countries are seeking to increase their share of world trade. We recommend strengthening the border management process for cross border movement of goods.

 
4. Inclusive Banking: There is increasing recognition of the importance of expanding financial access through inclusive banking to reach lower income segments of the population that are unbanked. Micro-finance and micro-banking have therefore become more important dimensions of the financial sector, but need further support to expand. CBC has launched a pilot project in Uganda that will set up infrastructure for rural areas, focused on access to banking and reducing the cost of remittances. Heads of Government are requested to prioritise access to financial services for all segments of the population – especially women entrepreneurs who face additional obstacles - and establish an effective regulatory environment for the microfinance industry. CBC will be glad to develop an index on financial access to assist work in this area.

 
5. Strengthening Local Content for Economic Development: In order to help develop national capacity for local business to partner with multinationals to meet procurement needs, the CBC has reviewed international practice on “Local Content” policies and requirements. Governments should develop and implement a clear and comprehensive local content policy in consultation with stakeholders, with measures including identification of qualified smaller contractors, information databases on suppliers, and simple, transparent contract award processes.

 
6. Counterfeiting: The counterfeiting of medicines and other products is a global phenomenon that requires global solutions. Governments must work together to ensure that their national regulatory authorities implement proper licensing and control systems that legitimate supply chains are kept secure and that penalties and sanctions against counterfeiters are strengthened and enforced. The Forum urges Heads of Government to encourage participation in international multisectoral efforts and to declare their determination to work together to take appropriate measures to eradicate the production and distribution of counterfeit medicines and other products in the Commonwealth.

 
7. Liberalising Civil Aviation: Air services are increasingly important to help support economic growth and connect countries to markets. In order to respond to evolving needs, governments and the private sector need to address issues including safety and security, market liberalization and respect for the environment. A Commonwealth approach on these issues could help bring clarity and coherence since it is not always possible to achieve consensus in other multilateral fora. The CBC together with the Commonwealth Secretariat proposes an Aviation Summit to be held in Africa in early 2008 with a view to developing Commonwealth policies on these issues.

 
8. Private Public Partnerships (PPPs) Poor infrastructure increases the cost of doing business and inhibits trade development. To boost infrastructure development governments are looking to innovative partnerships with the private sector. It is clear that most governments have understood the need for effective legislation to enable PPPs and setting up regulatory structures. This is not the case with regard to the operational frameworks that define processes and project structures, where it seems that lack of PPP experience results in under-estimates of the complexity required to manage risk and raise the confidence level of the private sector. CBC is exploring with governments and the private sector ways to build capacity for key sectors. Heads of Government are requested to support fully developed national PPP frameworks in order to underpin enabling legislation and to support collaboration for capacity building in infrastructure development.

 
9. Governance. Sustainable growth requires a healthy private sector – one free from corruption and mismanagement, and is a part of improving overall business efficiency. The CBC Business Principles provide a good framework for companies, and need to be rolled out and made accessible, especially for the SME sector. Sustained efforts are required to improve governance, and the Forum commends to Heads Business Action against Corruption (BAAC) a joint public-private initiative to combat corruption which has been successfully launched in Africa.

The Board of the Commonwealth Business Council includes:  Mr Rahul Bajaj, Chairman, Bajaj Auto Ltd, India; Mr James Bolger, ONZ Chair

Labels: Commonwealth Business Council, Mohan Kaul, Uganda, Government Leaders Meet in Uganda, Trade, Investment,  

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