Public-private partnerships are crucial for consistent economic growth

As part of the Comprehensive Ten-Year Review Conference on the Implementation of the Almaty Programme of Action adopted in 2003, the meeting set out to analyze and assess the impact of geographical handicaps on the development prospects of LLDCs and their participation in international trade markets. The meeting’s primary objectives were also centred around exchanging ideas, lessons and best practices on how to address the key development needs and challenges of LLDCs, in the context of a new landscape of international trade. As such, infrastructure development was identified as a primary area where LLDCs can make significant progress.

Louise Kantrow , ICC Permanent Representative to the United Nations (UN), highlighted ICC’s efforts in addressing the challenge of limited infrastructure in LLDCs. “ICC has been working with the Asian Development Bank to foster a structured framework initially via the creation of an Infrastructure Working Group, for effective public-private high-level dialogue (aimed at the G20 process) to the preparation and delivery of infrastructure public-private partnerships,“ said Ms Kantrow.

Inclusive sustainable development was also recognized as integral to economic growth in LLDCs. Ms Kantrow added: “As we transition from a Millennium Development Goals -focused paradigm towards a post-2015 development agenda, we believe that by promoting responsible entrepreneurship and developing inclusive business models that incorporate low-income populations into the supply, production, distribution and/or marketing networks, LLDCs can increase access to goods and services, and create new sources of income for low-income communities.“

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