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

The UfM Business Platform, conceived as a dynamic network of private sector entities, governments and experts from across the Euro-Mediterranean region, 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.

Istanbul, 29 June 2018. 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 4^th Regional Networking Forum on South-South and Triangular Cooperation on 28 June, in Istanbul. 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 cooperation network of private sector entities, governments and experts from the Euro-Mediterranean region and beyond, the new platform will capitalise on the UfM existing networks, current expertise and the private sector strategy already in place. During his speech at the Forum, the UfM Deputy Secretary General in charge of Business Development, Sudqi Omoush, stated that: “The UfM Business Platform will help to create synergies and partnerships at all levels, including among governments, business communities and development agents. It seeks to foster a conducive environment for the development of SMEs, the promotion of regional integration through trade and investment and the facilitation of policy dialogue via a multi-stakeholder approach and the advocacy of reforms through an objective exchange.”

The Forum brought together national focal points on South-South Cooperation and Directors-General for Development Cooperation from the Arab States, Europe and the CIS, representatives of multi-lateral and bilateral development institutions, as well as the private sector and the civil society

Background info on South-South and triangular cooperation

The UfM has a solid partnership with the UNOSSC as both organisations collaborate to foster South-South and triangular cooperation by promoting knowledge-sharing, relevant high-level policy debates and joint or coordinated activities. During the 3^rd  Regional Networking Forum, held on 26 November 2017 in Antalya, a joint report was issued titled “South-South in Action”, featuring The Union for the Mediterranean as an ‘Action-driven Organization for Regional Cooperation and Development.’

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.