THE European Union believes the private sector plays an important role in economic development, says EU deputy head of delegation to the Pacific Johnny Engell-Hansen.
While speaking in Nadi earlier this week, Mr Englell-Hansen said the private sector contributed to employment and wealth creation and thus to the reduction of poverty.
"The Cotonou Agreement, which binds the EU and the African, Caribbean and Pacific countries together, dedicates considerable attention to private sector development as a key ingredient of economic growth and poverty eradication," he said.
"It was in this spirit that the ACP Business Climate facility, or BizClim in short, was established in 2006 in order to help create an enabling environment in ACP countries.
"It is aimed at providing technical assistance for the improvement of the business and investment climate."