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Increased synergy between development cooperation and trade promotion

Minister for Development Cooperation Christian Friis Bach and Minister for Trade and European Affairs Nick Hækkerup will launch the initiative, GoGlobal Project Development, which is a flexible support facility aimed at helping more Danish enterprises break into new markets.

Cotton factory where workers are filling cotton into sacks.

Cotton factory where workers are filling cotton into sacks.

Photo: Thomas Marott/Danida

Minister for Development Cooperation Christian Friis Bach and Minister for Trade and European Affairs Nick Hækkerup will launch the initiative, GoGlobal Project Development, which is a flexible support facility aimed at helping more Danish enterprises break into new markets. At the same time, the Ministry of Foreign Affairs will also launch an effort to ensure a more targeted mapping of investment and trade opportunities in developing countries of benefit to Danish enterprises that are contemplating pursuing business opportunities. The efforts aim to meet local development needs and contribute to sustainable development.

Minister for Development Cooperation Christian Friis Bach states:“With these new tools in the toolbox, we can help Danish enterprises cross the threshold into new markets, which will enable these enterprises to contribute to meeting local development needs and creating greener growth and employment.”

Minister for Trade and European Affairs Nick Hækkerup states: “If we increase exports to developing countries by just DKK 1 billion, this will create around 600-700 new, real jobs in Denmark. The Danish business community has a number of strongholds in areas of real need in these countries, such as water, energy, food and health.”

The new initiative, GoGlobal Project Development, has materialised after ongoing dialogue with Danish enterprises and relevant partners. The overall objective is to promote sustainable development in developing countries as part of the efforts to reduce poverty and promote human rights and democracy. The initiative aims to pave the way for increased trade cooperation, establishment of partnerships, project deliveries or investments that can be further developed with assistance from one or more of the GoGlobal partners: Danida, the Trade Council, IFU and EKF.

In practice, this means that Danish enterprises which are considering investing in or trading with developing countries can seek support to identify risks and opportunities, including preparation of studies, market studies, project development, business plans, identification of suppliers and testing of equipment. Geographically, the focus is on the Danida priority countries where there are commercial opportunities and where the security situation makes it possible to conduct business. The support comprises 75 per cent of costs incurred up to a maximum of DKK 750,000. The Danish enterprise must finance 25 per cent of the costs itself in order to show the necessary commitment. The enterprise must have the necessary financial and technical capacity as well as adequate international experience to implement the commercial activity. Provisionally, DKK 4 million has been earmarked for the GoGlobal Project Development for the remainder of 2013. The budget for 2014 will depend on demand. It will be possible to submit applications for support from 1 November 2013. More detailed information about application procedures will be posted at www.dbpartnerships.um.dk.

The Ministry of Foreign Affairs will also finance a mapping of business opportunities and market information in selected developing countries for the benefit of Danish enterprises that are contemplating entering new markets, but which do not have a specific focus or adequate capacity to use GoGlobal Project Development. Initially, up to DKK 1 million will be spent on developing and establishing the new tool, which is expected to be ready during spring 2014. It concerns a dynamic, Internet-based tool that can identify and elaborate on local development needs and associated business opportunities more systematically than the previous country profiles that were exclusively a Danida tool. The new tool will contain general business-related information about the market, country-specific CSR challenges, as well as specific information about planned investments and current trade and investment opportunities.

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