Common use of Private Sector Development Clause in Contracts

Private Sector Development. 1. The Parties shall promote and strengthen the role of the private sector as an effective drive of sustainable development based on corporate social responsibility and responsible business conduct. They shall provide an enabling environment to unlock the potential of opportunity-driven entrepreneurship and to better harness Africa’s entrepreneurial base, combining a mix of tools such as financing, services and training, business culture and regulatory frameworks, innovation and the application of modern technologies. They shall pay particular attention to the informal sector and the formalisation of informal economic activities. 2. The Parties shall establish the right business framework and support MSMEs and start-ups to seize growth opportunities, including by promoting initiatives for their internationalisation. They shall strengthen MSME support services by focusing on accompanying measures, market access, capacity building and business upgrading. They shall promote and support innovation and entrepreneurship, especially among youth and women. 3. The Parties shall support structured dialogue between African and EU private sectors and cooperation between African and EU SMEs to help create an improved business environment enabling growth in all economic sectors. 4. The Parties shall promote private sector commitment and action on green business development and the circular economy, including through the development of social entrepreneurship and the facilitation of access to sustainable finance. 5. The Parties shall encourage and facilitate wider use of their respective currencies in their international transactions.

Private Sector Development. 1. The Parties shall promote and strengthen the role of the private sector as an effective drive driver of sustainable development based on corporate social responsibility and responsible business conduct. They shall provide an enabling environment to unlock the potential of opportunity-driven entrepreneurship and to better harness Africa’s 's entrepreneurial base, combining a mix of tools such as financing, services and training, business culture and regulatory frameworks, innovation and the application of modern technologies. They shall pay particular attention to the informal sector and the formalisation of informal economic activities. 2. The Parties shall establish the right business framework and support MSMEs and start-ups to seize growth opportunities, including by promoting initiatives for their internationalisation. They shall strengthen MSME support services by focusing on accompanying measures, market access, capacity building and business upgrading. They shall promote and support innovation and entrepreneurship, especially among youth and women. 3. The Parties shall support structured dialogue between African and EU private sectors and cooperation between African and EU SMEs to help create an improved business environment enabling growth in all economic sectors. 4. The Parties shall promote private sector commitment and action on green business development and the circular economy, including through the development of social entrepreneurship and the facilitation of access to sustainable finance. 5. The Parties shall encourage and facilitate wider use of their respective currencies in their international transactions.

Private Sector Development. 1. The Parties shall promote and strengthen the role of the private sector as an effective drive driver of sustainable development based on corporate social responsibility and responsible business conduct. They shall provide an enabling environment to unlock the potential of opportunity-driven entrepreneurship and to better harness Africa’s entrepreneurial base, combining a mix of tools such as financing, services and training, business culture and regulatory frameworks, innovation and the application of modern technologies. They shall pay particular attention to the informal sector and the formalisation of informal economic activities. 2. The Parties shall establish the right business framework and support MSMEs and start-ups to seize growth opportunities, including by promoting initiatives for their internationalisation. They shall strengthen MSME support services by focusing on accompanying measures, market access, capacity building and business upgrading. They shall promote and support innovation and entrepreneurship, especially among youth and women. 3. The Parties shall support structured dialogue between African and EU private sectors and cooperation between African and EU SMEs to help create an improved business environment enabling growth in all economic sectors. 4. The Parties shall promote private sector commitment and action on green business development and the circular economy, including through the development of social entrepreneurship and the facilitation of access to sustainable finance. 5. The Parties shall encourage and facilitate wider use of their respective currencies in their international transactions.