Inter-Regional Private Sector Collaboration
The case for greater cooperation and partnerships amongst SIDS regional private sector organisations
Sharing best practices, lessons learned, business leads, contacts and referrals are amongst the key facets of building successful businesses and in creating the right environment to scale up and strengthen mutual partnerships. This holds true at the national, regional and international levels. Fostering greater private sector collaboration and information sharing between the AIMS, Caribbean and Pacific therefore makes business sense for a variety of reasons.
While the three SIDS regions have active and well established regional private sector organisations providing services, capacity building, advocacy and financing opportunities to their respective members, there remains great potential for these regional entities and their members alike to share their collective knowledge with their regional counterparts including in marketing, manufacturing and distribution and to strengthen collaboration in this regard. From the Pacific Islands Private Sector Organisation’s work with Pacific Women in Business to the Caribbean Export Development Agency’s Exporter’s Toolkit, the scope for lessons learned and knowledge sharing between the regions is enormous.
Coupled with the digital revolution which is forging full steam ahead, there has never been a better time for SIDS private sector organisations to connect with one another and likewise with the wider international business community. The costs of information and communication technology continues to drop globally allowing for business networking to be a highly productive, low-cost method for generating new business; especially when compared to traditional advertising and public relations campaigns.
The SIDS-GBN is one platform where the regional private sector organisations can come together to forge greater collaboration and explore avenues to strengthen inter-regional business alliances. In addition, the SIDS-GBN acts as a resource hub bringing together the three regions under one roof so that members can access with ease region specific information in one location. Likewise, the wider international business community will be able to access information on the nature and potential for partnerships with islands.
The SIDS-GBN will also foster greater awareness of the importance of sustainable development as a guide to promoting dynamic business sectors that are driven by innovation, inclusive economic growth and job creation, but firmly rooted in social, environmental and economic standards and respects the development aspirations of local communities. From the standpoint of inter-regional collaboration, the implementation of both the SAMOA Pathway and the UN’s post-2015 development agenda and Sustainable Development Goals (SDGs) will be another avenue in which SIDS private sector organisations can collaborate on lessons learned and explore ways they can contribute to and benefit from the SAMOA Pathway and SDGs.
Featured Photo Credit: Asian Development Bank