The Global Business Network (GBN) Forum, an initiative of the United Nations Office of the High Representative for Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UNOHRLLS), was held successfully on the sidelines of the SIDS4 Conference in St. John's, Antigua, from May 25 to 26. The biennial event brought together the private sector and Small Island Developing States (SIDS) to promote effective partnerships and sustainable development.
The GBN Forum featured four thematic sessions:
- Strengthening innovative blue and green economies
- Inclusiveness for transformation and resilience
- Building a business environment (jointly with the Commonwealth)
- Securing finance and investment for the private sector in small island developing states
These sessions concluded with actionable recommendations that will form the agenda for a private sector roundtable at the SIDS4 meeting on May 28. The six-month preparatory process, which included webinars, consultations and knowledge sharing, will shape the forum’s agenda and guide SIDS-GBN for the next decade.
Key outcomes of the forum include:
- Leverage private sector innovation to unlock blue and green economy opportunities, including marine and sustainable fisheries, zero-carbon shipping, and ecotourism.
- We value multicultural partnerships to help communities build resilience and diversify their economies.
- Improving the business environment by strengthening local chambers of commerce and industry associations.
- We will implement policies to improve working conditions, expand markets, and create an inclusive platform for dialogue between the government and the private sector.
- Attracting more finance and investment to SIDS and holding discussions focusing on the possibility of an Island Investment Forum under the SIDS Centre of Excellence.
During the high-level closing session, UN Secretary-General Antonio Guterres He stressed the important role of the private sector in Small Island Developing States (SIDS).
“SIDS need to harness private sector investment, expertise and innovation,” said Guterres. “The dynamic SIDS GBN Forum has provided a platform to mobilize the private sector, foster innovation, build partnerships, drive accountability and align business practices with SIDS success.”
The Commonwealth Secretariat co-hosted Session 3, which focused on building a business environment for Micro, Small and Medium Enterprises (MSMEs). Amelia Kelly, Trade Officer, Commonwealth Secretariat He moderated the session and stressed the importance of strong policy frameworks and capacity building to help local businesses adapt to changes in the global market.
“Providing training and knowledge-sharing support to help small and medium-sized enterprises take advantage of opportunities to expand into new markets and secure investment for sustainable economic growth is a key priority for the Commonwealth,” she said.
Outcomes of the Commonwealth Session include:
- Awareness of the current business environment in SIDS.
- Identifying opportunities for small businesses and young entrepreneurs.
- Share strategies for building an enabling business environment.
- Insights into effective policy measures for SIDS governments and business support organizations.
Garfield Joseph, Executive Director of the Antigua and Barbuda Investment Authority, stressed the importance of partnering with the private sector to stay competitive and adapt to technological advances.
UNOHRLLS remains committed to harnessing the transformative power of the private sector to achieve a sustainable, resilient and prosperous future for SIDS.
