The meeting was attended by ministers and senior government representatives from 15 countries, in particular LDCs, more than 20 business executives and representatives of NGOs. It was opened by the United Nations Secretary-General, Mr. Kofi Annan. He welcomed the continued dialogue and cooperation between Governments, the business community, UNCTAD, the ICC and the Global Compact to the benefit of the developing countries.

The discussion, which was in the form of an informal dialogue and included all participants, focused on establishing and deepening business linkages between foreign affiliates and local enterprises as an effective means to better benefit from FDI and to exercise corporate responsibility. Business and Governments presented country experience in promoting linkages. Participants agreed that when business linkages were undertaken, issues of sustainability in environmental and social development should be taken into account.

UNCTAD introduced its work on guidelines for business linkages promotion, which is based on a recommendation of the first IAC meeting, held in Monterrey in March 2002. Projects for promoting business linkages in Brazil (with the financial support of the Government of Germany) and in Uganda (with the financial support of the Government of Sweden) were announced during the meeting.

The discussion also focused on further strengthening the investment framework in the LDCs, the dissemination of information on investment opportunities in those countries and changing the perception of the poorest countries of the world. The Japan Bank of International Cooperation announced its support for a project on implementing worldwide best practices in a number of Asian LDCs (Cambodia and the Lao People’s Democratic Republic to begin with), which will also help those countries to disseminate information on investment opportunities.

In concluding, UNCTAD and the International Chamber of Commerce agreed to continue the dialogue at the fifth IAC meeting in 2005, back to back with an UNCTAD/UNDP Investment Conference for the countries of the silk road in

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