Accra, 21 April 2008 — UNCTAD and the Organization for Economic Cooperation and Development (OECD) signed today a memorandum of understanding (MoU) intended to boost the organizations´ efforts to promote entrepreneurship and the establishment of small- and medium-sized enterprises (SMEs) in developing countries.
The agreement was signed at the UNCTAD XII quadrennial conference in Accra, Ghana.
The MoU builds on a Joint Statement of Priorities for OECD-UNCTAD Partnership signed on 13 March 2002, which called for the growing cooperation between the organisations. The aim of the MoU is to establish co-operative working relationships on SMEs and entrepreneurship, to avoid duplication, to capitalize on the respective competencies of both organisations, and to clarify responsibilities for future joint projects.
"The role of SMEs and their contribution to economic growth, social cohesion, employment and local development, is now recognised by governments worldwide. All economies, including the most industrialized, have the potential to gain from a more dynamic SME sector", said Mario Amano, Deputy Secretary-General of the OECD.
And UNCTAD Secretary-General Supachai Panitchpakdi said, "Strengthening the competitiveness of domestic SMEs, which represent the backbone of most economies, is vital for developing countries to benefit fully from international trade and investment opportunities and to achieve the Millennium Development Goals".
