Various experiences presented and lessons drawn at the conference are of relevance not only for the oil or gas sector but also for other commodity sectors. One is the issue of developing local clusters. For large projects - whether in oil, mining or infrastructure - to have a strong development impact, they need to be linked closely with the local economy. Experience has shown that the most productive way to do this is through a cluster approach. This means that companies should not just try to subcontract to local firms, but they should think in terms of "dynamic comparative advantage" - what sustainable activities could be developed around the contracts that large firms, for example in the oil sector, could provide.

Presentations on the experiences of Brazil, Norway and Venezuela highlighted how this can be done. Contracts should be drawn up in such a way that local companies can tender; foreign investors should be strongly encouraged to enter into technology-transferring partnerships with local companies; and local companies should be informed about the type of contracts that they can expect in the years to come so that they have sufficient time to prepare. This should be supported by a well-defined education policy, and appropriate research and development activities. Competition between local firms should be encouraged. And even though technological capacity may be low at the outset, trust in the ability to develop the necessary skills is important.

Another relevant issue is the role of large companies in fostering the development of smaller ones. Where Governments have a monopoly in a certain sector, the responsible parastatals should still be strongly encouraged to review their range of activities, and outsource anything that is not part of their core competences. For example, a parastatal oil company such as Petrobras should sell off fields, once they are mature, to smaller, local companies. Experience has shown that not only are these smaller companies likely to be better in managing the fields, but also they can build on these core assets to grow, including in international markets. Even if Governments wish to retain state control in certain sectors, small companies should be allowed to grow up around parastatals, and Governments should not allow parastatals to "crowd the field". While the necessary technical skills for this are likely to be present in many countries, finance will be a bottleneck, and local banks should be assisted in learning how to finance new entrepreneurs in these areas.

Country risk is an important consideration for international investors and financiers. In particular, the large negative effect of a very complex and rather unstable taxation and regulatory regime can be an important concern. However, there is a lack of awareness in this regard. Having a stable, clear and transparent regime is very important for international investors, perhaps more than the actual details of the regime.

The conference also discussed public-private partnerships (PPPs). These are often the way forward to ensure that as large a number of people as possible can benefit from essential services - whether it is energy, water, transport, telecommunications, etc. PPPs are still relatively new - in Brazil, for example, a draft law is now being discussed. The discussions at the conference clarified how to move forward with sustainable partnerships. The elements include transparency, strong contractual relationships between the various partners, the understanding in Governments that PPPs do not come free, and mobilization of "supporting" entities such as development banks.