G20 Development Working Group Submissions
agriculture. In that regard, TAP implementation
becomes an important initiative to address the
specific challenges regarding the agricultural
innovation gap in tropical areas.
Further progress in the initiative will benefit from
stronger dissemination of its activities, enhanced
participation by interested governments and broader
financial support. This is especially important in the
context of knowledge transfer within the framework
of South-South cooperation.
In-Depth Assessment: Encouraging all countries
and companies to uphold the Principles for
Responsible Agricultural Investment (PRAI),
and requesting UNCTAD, the World Bank,
IFAD, FAO and other appropriate IOs to
develop options for promoting responsible
investment in agriculture.
In order to boost the agricultural sector in developing
countries, private investment is essential. The PRAI
are aimed at governments and the private sector alike
and seek to bring about more responsible investment
practices in the agriculture sector. The PRAI cover
all types of investment in agriculture and provide
a framework for national regulations, international
investment agreements, global corporate social
responsibility initiatives, and individual investor
contracts. The G20's political support for the PRAI
contributes to the consultation process at the CFS.
Alignment with Core G20 and DWG Mandate:
Investment can contribute to agricultural growth and
development only when it is socially responsible
and economically and environmentally sustainable.
The PRAI encourage better respect for rights,
livelihoods and resources. The Principles should be
widely practiced and promoted by the international
community for the benefit of recipient countries, local
communities (including small farmers) and investors.
In this regard, the PRAI will contribute to the G20
goal of achieving strong, sustainable, inclusive and
resilient growth in low-income countries.
<Rice grains in bowl. Nigeria.» Credit Photo:
Arne Howl/World Bank
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