Minister Paradis discusses future cooperation with Canadian private businesses

The Government of Canada, in cooperation with TFO Canada, is exploring innovative ways to get businesses more involved in international development.

February 20, 2014 – Gatineau, Quebec – Foreign Affairs, Trade and Development Canada

The Honourable Christian Paradis, Minister of International Development and Minister for La Francophonie, met today with representatives of Canadian businesses to consider opportunities to form partnerships designed to reduce poverty in developing countries.

"We seek to form solid partnerships with the private sector characterized by mutual cooperation, respect, and trust to create an environment where the full resource potential of developing countries is sustainably developed," said Minister Paradis. "The ideas and proposals put forward today will help us to break the cycle of poverty and dependence."

Participants discussed a wide range of ways to involve the private sector in development. These included guarantees to promote investment, subsidized loans given with more favourable terms, new partnerships to help Canadian retailers to invest in emerging markets, and other innovative means aimed at promoting involvement and investment by Canadian businesses.

"Our government seeks original, new approaches to development," said Minister Paradis. "The private sector is a vital stakeholder if we want to achieve meaningful development results. By giving businesses market access, and by encouraging investment, innovation, training, and trade, we favour economic growth in developing countries."

Canada's Economic Action Plan 2014 reiterates Canada's commitment to governance, coherence, and aid effectiveness. This translates, most notably, into concrete efforts to deepen the Government of Canada's involvement with the private sector to assist communities living in poverty.

Quick facts

  • In view of increasing recognition of the importance of the private sector in development, Canada has intensified its efforts to cooperate with the private sector, to help to improve the lives of the poor.
  • Canada wants to join forces with the private sector's strength, resources, and innovative spirit to assist those who are most vulnerable. This approach makes it possible to improve job opportunities and to generate more investment and resources, thus helping to increase people's productivity and well-being.
  • Canada is expanding and strengthening its cooperation with the private sector to promote sustainable economic growth and to reduce poverty in developing countries. Among other things, the strategy comprises finding ways to develop the private sector's resources, innovative spirit, and expertise to help populations in developing countries to:
    • seize opportunities for responsible development of their natural resources and facilitate access to financial services;
    • expand efforts aimed at sustainable economic growth; and
    • rise from poverty to prosperity.

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Margaux Stastny
Director of Communications
Office of the Minister of International Development and Minister for La Francophonie

Media Relations Office
Foreign Affairs, Trade and Development Canada
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