COMECE contribution on Private Investment and Development

With the recently launched European External Investment Plan, traditional development cooperation seems to move from a donor-recipient relationship towards a fair and mutually beneficial partnership. In this context, COMECE has published its assessment and some concrete policy recommendations.

(Credit: Felipe Dana/AP)

In the context of the recent 5th AU-EU Summit and the upcoming EU-ACP negotiations on the future of their relations, the Secretariat of COMECE elaborated a contribution to the ongoing debate on linking private investment with sustainable development.

With regard to the recently launched European External Investment Plan, COMECE believes that the EU should focus on fostering the resilience of local people through promoting responsible, sustainable and mutually beneficial transnational partnerships.

The fair use of the capital to the benefit of the people, especially by empowering the youth, is a key principle for the implementation of the external investment initiative with a view to fostering integral human development.

In its contribution entitled “Private Investment & Development”, the Secretariat of COMECE encourages the EU to address these challenges, in particular by:
• promoting fair and inclusive economic processes based on production instead of predation,
• allowing effective access to the market for all, and
• ensuring compliance with accountability standards by all stakeholders.