European Commission, ITC call for better-informed decision-making for trade and private-sector development
The European Commission's Directorate-General for International Cooperation and Development (DG DEVCO) and the International Trade Centre (ITC) are working together to support businesses – particularly small and medium-sized enterprises – and trade in developing countries.
The Director-General of DG DEVCO, Stefano Manservisi, met ITC Executive Director Arancha González in Brussels on 9 November to discuss how better-informed decision-making can support the private sector and trade in developing countries and related aid delivery.
Reflecting upon international trade, investment and official development assistance as important means to achieve the United Nations Sustainable Development Goals, they concluded that three particular areas would deserve further attention and efforts:
- a robust understanding of value chains and downstream markets that can enhance project design and impact;
- pilot projects that can successfully connect micro, small and medium-sized enterprises making the case for initiatives that can encourage market transformation; and
- evidence-based dialogue for an enhanced business and regulatory environment.
Manservisi said that ‘working in these areas can make an important contribution to the United Nations' 2030 Agenda for Sustainable Development and the Sustainable Development Goals, the Addis Ababa Action Agenda on Financing for Development and the Paris Climate Change Agreement’.
Arancha González said that ‘a strong cross-fertilization between market intelligence and market connection could help foster constructive dialogue and a stronger reforms agenda on the ground. It's about moving from making trade possible to making it happen’.