Support for developing countries

G7 Initiative CONNEX – Fair Contracts can Boost De­vel­op­ment

17.06.2014 |

Complex contracts, especially those in the extractives sector, play a decisive role in the economic growth of many de­vel­op­ing coun­tries.

Their governments often seek support in negotiating long-term contracts that will promote de­vel­op­ment and meet social, en­vi­ron­mental and transparency standards. For this reason, as announced at the 2014 Brussels G7 Summit – on June 17, the G7 coun­tries launched the CONNEX initiative aiming at pro­viding de­vel­op­ing coun­tries with extended and con­crete expertise for negotiating complex commercial contracts, focusing initially on the extractives sector. The initiative first steps is the internet portal provided by the Columbia Center on Sustainable Investment. Further steps are planned during the German G7 presidency.

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