13 May 11 - Continued cooperation between UNCTAD and the International Chamber of Commerce (ICC)

International Chamber of Commerce Strategies for improving the effects of the investment in least developed countries (LDCs) were the common theme of the two events jointly organized in Istanbul, 10 May.

UNCTAD and the International Chamber of Commerce (ICC) organized two joint events on 10 May in Istanbul, during the Fourth United Nations Least Developed Countries Conference. Both meetings were opened by the respective Secretaries-General, Supachai Panitchpakdi (UNCTAD) and Jean-Guy Carrier (ICC), who pointed to the longstanding fruitful cooperation between the two organizations.

At the "Investment Showcase Sessions (Benin, Comoros, Lao PDR, and Zambia)", high-level representatives of the four countries presented their investment guides. The discussion that followed concluded that all the countries seem to experience the same condition - they are "poor" and "rich" at the same time. They are poor as measured by the GDP, and in dire need of investment; they are rich in natural resources, cultural heritage, and in commitment of their governments to economic development.

"Investment Advisory Council: A new partnership for development: Invest in the Poor, with the Poor and for the Poor. (9th session)" saw an informal exchange on means to improve investment in LDCs in a way that is the most beneficial to the recipient countries. The meeting focused in particular the critical role of investment in agriculture and the importance of developing small and medium enterprises.

Participants of both events emphasized the high added value of the investment guides jointly prepared by UNCTAD and ICC, and recommended that their number and diffusion be substantially increased.

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