Byiers, B. 2015. What is the EU's added value in supporting the private sector? How can this be complementary to the actions already carried out and partnerships established by member states? Expert note. In: European Parliament. 2015. The role of the private sector in fostering sustainable development. (Report of the workshop held on 5 March 2015). Brussels: European Parliament. Pp.: 2-16.
The EU’s potential value added in supporting the private sector for development relates to its economic scale and business potential as an economic actor, its role as the main provider of development cooperation assistance in the world, and its network of institutions that might be used to support these towards the creation of more and better jobs.
Although there are examples where EU Institutions are supporting both the developing country private sector and EU businesses in investing in developing countries, these need to be better linked and coordinated for the EU to reach its full potential value- added.
While the EU has the potential to become a major player in promoting the role of the private sector in fostering sustainable development, working more with the private sector ultimately requires a change in instruments and approach, but perhaps more fundamentally, a different mindset about development.
See also the presentation by Dr Bruce Byiers