Harnessing Trade and Investment for Responsible Business and Sustainable Development
A rights-centred approach is essential to a fair globalization, as recognized ILO Declaration on Social Justice for a Fair Globalization. Likewise, trade and investment are essential to achieving sustainable development which secures the human rights of all people. Trade and investment are vital to maintain and strengthen economic growth, integrate countries into the global economy, boost technological innovation and know-how, enhance skills transfer and contribute to the creation of decent work. But not all investments have the same development impacts; and not all contributors benefit from trade. Getting the most out of trade and investment requires strategic thinking and a strong commitment to inclusive economic growth.
This session will explore efforts to foster synergies between, on the one hand, trade and investment and, on the other, sustainable development and responsible business. By drawing on key trade and investment issues, the session seeks to provide participants with an understanding of how trade and investment issues can impact the social and environmental performance of South Asian countries. As such, the session will provide a broad picture of how to foster synergies between responsible business and international trade and investment, showcase good practices and discuss gaps South Asia.
The key objectives of this session are to:
Highlight the importance to South Asia of a sustainable and human rights-based approach to globalized trade and investment, especially in the context of business activity and regulation;
Explore potential synergies between economic objectives and responsible business in the realm of international trade and investment;
Share both challenges and good practices and raise awareness of existing efforts to inform the strategies of South Asian governments and companies.