Good governance goes hand in hand with economic development, Smith says

Poverty reduction and good governance are crucial for peace and stability, given the development challenges and conflicts of today’s world, Commonwealth Deputy Secretary-General Ransford Smith said in a speech prepared for an international economic forum.

“Our experience in Commonwealth countries has shown that good governance and economic development are mutually reinforcing, long term, country-driven processes, which should go hand-in-hand,” he stated.

Addressing the International Forum of the Americas/Conference of Montreal in Canada on 21 June 2007, Mr Smith said that governance and development were dynamic and complex processes and their delivery hinged on solid institutions and long-term commitment.

“Both need bold, strong, competent and courageous leadership,” he emphasised.

Mr Smith highlighted the clear convergence of interest between the public and private sectors in promoting good governance, pointing to the link between government and development and how waste, inefficiency, corruption and ineffectiveness impact on development.

The Commonwealth had made good governance a key development priority through promoting public sector reform and building the capacity of regulatory institutions, he said.

It views the relationship between civil society and the private sector as an integral part of the political, economic and administrative management of a nation.

“We strongly believe that governance is to be judged not only on outcomes, but also on the processes and relationships that produce them,” the Deputy Secretary-General told the meeting.

He cited the Commonwealth’s decade-long support to members in the area of corporate governance reform which has covered 40 countries.

And since 2003, the Commonwealth Secretariat has also worked with more than 20 member states, advising on structuring and implementing public-private partnerships.

The Commonwealth’s good offices and democracy work in resolving conflict and promoting peace have supported the stability and predictability needed for the private sector to grow and flourish in countries like Cameroon, Guyana, Swaziland and Uganda.

This year, the Secretariat will revisit the issue of good governance and its relationship with development, Mr Smith said.

“We propose to highlight the key role that a successful partnership among development partners, governments and the private sector can place in taking both agendas forward.”

The meeting was held from 18 to 21 June 2007 and was co-organised by the Canadian International Development Agency.­

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• CIDA
• International Forum of the Americas