Role of the Private Sector in Enhancing Sustainable Trade and Investment Presentation by the Chairman of PIPSO, Mr Hafiz Khan Mauritius, April 2012
Challenges of the Private Sector in the Pacific Region Small size economies and widely spread across the Pacific Ocean Low Investment Levels Lack of access to Finance Political Instability, law and order and corruption Poor Infrastructure – High Cost of Fuel, Transport & Telecommunication Legal systems are outmoded and regulatory Lack of Engagement of Government with Private Sector Limited engagement of Private Sector in Trade Talks to craft agreements and programs Climate Change Lack of Support for Private Sector organisations both at national and regional level
Key Elements to Facilitate Sustainable Growth in the Private Sector Stable Government and Political Environment Increase Level of Investments – Both Domestic and Foreign Adequate Infrastructure Increase Incentives for alternative Fuel Source – Green Energy Reform outdated laws and lessen regulatory burdens on companies Increase Government and Private Sector Dialogue Increase Private Sector Engagement on Trade Talks Improve access to Finance – regional fund facility Business Development Support - to improve product quality and market access
Incentives to be in Place to Promote Regional Trade & Value Addition in Agriculture Products Accelerate the harmonization of bio-security and customs arrangements for the Pacific Islands to increase intra regional trade Increase private sector participation in trade consultations and negotiations before reaching the final agreement Increase business development support to private sector to improve product quality, certifications, standards for export purposes especially for agriculture products The need for a regional testing facility to test product quality for all exported products from the Pacific Increase Trade Missions Support within the Pacific and to International Markets Increase technical assistance in the area of value adding for agriculture products