Port Vila, 15 July 2014/ ACP: Priorities and directives that will guide future actions of the ACP Group on private sector development were presented to Pacific CEO’s at the 2nd EU-Pacific Business Forum, held last month in Port Vila, Vanuatu.
ACP Secretariat expert Kenneth Karl presented the ACP strategic framework for the sector, which was adopted by the Committee of Ambassadors in April 2014. Key priority areas for action include:
improving the business climate;
strengthening entrepreneurship and micro-enterprises;
improving access of small, micro and medium enterprises to finance; and
boosting competitiveness and access to regional and global markets.
The strategy is based on principles such as subsidiarity, ownership, complementarity, synergy and adaptability. Implementation will focus on institutional capacity building, promotion of investment, private sector participation in improving the infrastructural framework, resource mobilization, and creating a network of ACP private sector, amongst other initiatives.
The presentation was followed by a working session on operational aspects tailored to the specific context of the region.
The Pacific-EU Business Forum was held 24th to 27th June 2014 and was organised by the ACP Business Climate (BizClim) programme. The meeting brought together senior ACP and EU officials, as well as representatives and Chief Executive Officers from various private sectors and regional institutions. Talks aimed to identify areas for enhanced business opportunities and where Pacific Islands can have access to capital and funding for business expansion into the EU market.
– ACP Press