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Role of the Private Sector in Enhancing Sustainable Trade and Investment. Presentation by the Chairman of PIPSO, Mr Hafiz Khan Mauritius , 23-24 April 2012. Challenges of the Private Sector in the Pacific Region. Small size economies and widely spread across the Pacific Ocean
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Role of the Private Sector in Enhancing Sustainable Trade and Investment Presentation by the Chairman of PIPSO, Mr Hafiz Khan Mauritius, 23-24 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and Foreign • Adequate Infrastructure • Increase Incentives for alternative Fuel Source – Green Energy • Reform outdated laws and lessen regulatory burdens on companies • Increase Government and Private Sector Dialogue • Increase Private Sector Engagement on Trade Talks • Improve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