UfM introduces its regional Business Platform and consolidates its role in South-South and Triangular Cooperation

03-07-2018
UfM introduces its regional Business Platform and consolidates its role in South-South and Triangular Cooperation
UfM introduces its regional Business Platform and consolidates its role in…
Copyright: UfM

Key decision-makers coordinating cooperation for development from over 40 countries of the Arab States, Europe and the Commonwealth of Independent States regions (CIS), gathered at the 4th Regional Networking Forum on South-South and Triangular Cooperation on 28 June in Istanbul, Turkey.

The Forum provided the opportunity to discuss the role of South-South and triangular cooperation in promoting entrepreneurship and innovative solutions for the engagement of the private sector in achieving the 2030 Agenda.

Co-organised by the UfM, the UN Office for South-South Cooperation (UNOSSC), the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC), the Islamic Development Bank (IDB) and the UN Development Programme (UNDP), the forum saw the presentation of the UfM Business Platform.

Conceived as a dynamic network of private sector entities, governments and experts from across the Euro-Mediterranean region, the UfM Business Platform aims to contribute to regional integration through facilitating trade and investments and to the development of Small and Medium enterprises (SMEs) by building synergies and partnerships, promoting policy dialogue and the exchange of best practices as well as fostering corporate responsibility.

As outlined in the 1978 Buenos Aires Plan of Action (BAPA), South-South cooperation is an expression of solidarity among countries of the South. Initially focused on technical cooperation, capacity-building and knowledge exchange, recent developments in South-South cooperation have led to increased volumes of South-South trade, South-South flows of foreign direct investment, movements towards regional integration, technology transfer, sharing of expertise and development solutions and other forms of exchange.

Triangular cooperation is also gaining importance as it serves as an important bridge between the North and the South, thereby providing a unique opportunity for transforming the regional and global development approaches and experiences.

 

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Press Release

The Union for the Mediterranean (UfM)