Trade governance can be understood as the mechanisms used to ensure that a system or regime advances smoothly and effectively toward the goal it has set for itself and can deal efficiently and justly with the issues that arise along the way. The basic characteristics of good trade governance include-Transparency: People affected by decisions have timely access to accurate and up-to-date information on the issue, as well as information on the positions and proposals of the different parties, Participation: The right to take part in the debate or decision-making process links to the extent a stakeholder has interests at play or will be affected by the decisions, Accountability: Decision makers and the regime itself are answerable for their actions, decisions, and compromises in terms of the stated goals and objectives as well as any statements and declarations they make about their actions and decisions. Accountability includes access to justice for those with a legitimate grievance. In the case of the trading system, accountability seeks an accommodation with the claims of justice made by those who believe the trading system should support sustainable development.
The contemporary business activities of multinational companies (MNCs) have an important contribution to make to economic development in developing countries. This contribution is particularly significant because the volume of private capital flows exceeds that of development assistance. International business activities and investments in developing countries have the potential to create positive or negative impacts at several levels for people living in poverty. The extent to which the wealth created by business can reduce poverty is determined by many factors including inclusion and participation.
At Governance Links Tanzania, we believe that the private sector can be an important engine of development. Companies, when they act responsibly, can play a vital role in contributing to sustainable development and poverty reduction. Our reason for undertaking research projects in extractive industries arises from our desire to deepen understanding of the impacts of investment by a multinational company upon people living in poverty. For many years, foreign direct investment has been seen as being a major contributor to ‘pro-poor’ development for what it brings in terms of wealth creation, employment, technology transfer, and other components of poverty alleviation. Yet there is a wide on-going debate about whether and how these contributions translate into real benefits for people living in poverty. Governance crises can arise when the gap between what is declared and what is delivered grows too big.This is the case with the WTO and related institutional policies.
Governance Links Tanzania will focus on:
- Promoting inclusive benefits for the poor through extractive industries particularly in mining , oil and gas
- Research and advocacy on Economic Partnership Agreements(EPA) and implications of the World Trade Organisation policies
- Facilitating effective Public Private Partnerships
- Strengthening multi stakeholder engagement on trade-related issues at local and sub national level
- Providing evidence for strategies that can contribute to conflict transformation in trade- relate investment, upholding the rights of communities and supporting policies for sustainable local development.
- Strengthen the capacity of civil society , corporate sector networks and local governancestructures to roll out multi stakeholder dialogues