TRADE AND INVESTMENT PROMOTION Trade strategies often place greater stress on trade promotion than on negotiations, focusing on the ways th...
TRADE AND INVESTMENT PROMOTION Trade strategies often place greater stress on trade promotion than on negotiations, focusing on the ways that a country can take advantage of the opportunities created by the agreements that have already been reached. This practice is especially prevalent for poorer countries in which supply-side constraints are often greater than barriers on the demand side, and for units of government that do not have responsibility for trade negotiations. A TPF should examine and assess the promotion programmes that a country currently has in place, including any evidence that quantifies the actual trade and investment that these programmes may have stimulated, and consider whether any changes might be appropriate. Adopt and implement investment promotion regimes for least developed countries.
One of the 19 targets under Sustainable Development Goal 17: Revitalize the Global Partnership for Sustainable Development PARTNERSHIPS FOR THE GOALS The TPF should investigate whether the country’s embassies and other missions abroad provide adequate assistance. Some governments take a very active role in the promotion of trade and investment, and have the resources to deploy diplomats and other staff that deal separately with economic and commercial matters. They may divide their staff into 48 TRADE POLICY FRAMEWORKS FOR DEVELOPING COUNTRIES: A MANUAL OF BEST PRACTICES A strong investment promotion agency … should be empowered to drive the process in government. Not only would it require technical capacity to understand the [global value chains] and [multinational corporations] being targeted, but it would also require strong political support within government to overcome the inevitable political and bureaucratic hurdles that will arise in the process of negotiating with lead [multinational corporations]. Trade Policy Framework: Namibia (2016) sectoral topics (e.g. agricultural attaches) so as to assist specific constituencies. Others require that one or two officials take on a variety of duties. The trade and investment promotional offices will sometimes be housed in an embassy, or may be both physically and legally separate from it. Whatever the structure may be, these offices act to promote the country’s exports and to attract foreign investment through a variety of activities, including participation in trade fairs and other promotional events, developing market leads that are publicized at home, providing briefings and other advisory services to domestic and international businesses, and liaison with the host government on economic and commercial matters.
The TPF for Panama called for a comprehensive, innovative, and coherent marketing strategy to support the exports that contribute more to development goals. That may entail participation in such exportpromotion initiatives as fairs, business roundtables, road shows, and direct business contacts between exporters and potential clients. Market intelligence is also critical to provide the necessary guidance to the private sector about opportunities in foreign markets. Consideration should be given to the roles of both the public and the private sector. In some countries the private sector takes charge of these programmes, either solely or in collaboration with the government, of the trade and investment promotion agency. In Costa Rica, for example, the Foreign Trade Promotion Agency (PROCOMER) is a non-state public entity responsible for promoting exports, administering the free zone regime, and promoting supply linkages between local and multinational businesses. Similarly, the Costa Rican Coalition for Development Initiatives (CINDE) is a private organization that promotes domestic and foreign investment, monitors businesses and markets, and provides direct services to investors.
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