The Government has launched an initiative aimed at encouraging Irish business to invest and do business in developing countries.
Launching the Private Sector Forum at a seminar in Dublin yesterday the Minister for State for Development, Mr Kitt, said he was appealing overtly to the commercial self-interest of Irish companies. But he added that "unapologetically I am appealing also to your altruistic sense, what is now being called corporate social responsibility".
He said that despite its reputation and the significant risk there are profitable opportunities in Sub Saharan Africa for "informed business people".
He said the initiative reflects a growing consensus that development effort could not be solely government-to-government. Ways have to be found to promote economic growth in poor countries and "to engage with and stimulate the private sector in these countries".
"What we are doing then...is challenging the successful Irish private sector to become involved in business in developing countries," he said.
At this stage the forum is trying to assess interest for the concept among Irish business.
It is intended that embassies in African countries currently receiving aid from Ireland will offer the sort of local knowledge and guidance to business that is currently made available at Irish embassies in developed countries.
If there is sufficient interest the Minister plans to lead a trade mission to Tanzania and Uganda latter this year.
The chairman of the forum, Mr Liam FitzGerald, the chief executive of United Drug, said that establishment of the forum represented "a call to arms" for Irish business.
The forum was also addressed by Mr Niall FitzGerald, the chairman of Unilever. He told the forum that Africa "can be a hugely rewarding place to do business" for companies prepared to make a long term commitment.
"Africa needs your interest and the potential rewards are truly exceptional," he said.
Mr Donal Tierney, the group chief executive of Tallaght-based Cross Vetpharm which generates 5 per cent of its €70 million turnover in Africa, said that his company had found good niche markets although it had to negotiate significant obstacles.
For further information see www.dci.gov.ie
