The private sector is always the most vibrant part of the society that is also the trend setter for modern practices and culture. As we strive for the promotion and protection of all human rights, we can greatly benefit by working together with the business community.
- The UN Guiding Principles for Business and Human Rights provide us with an opportunity to develop a business environment that has an element of human rights due diligence and at the same time attractive to the business enterprises. We need to transform the narrative and culture both nationally and internationally by advocating the benefits that responsible investments and business practices can accrue for both the community and the business enterprise.
- We believe that public-private partnerships can be a good tool for the advancement of UN Guiding Principles. At the same time, capacity building remains a daunting challenge for the developing countries which needs to be addressed through international cooperation.
- The Fifth Annual Forum on Business and Human Rights was very useful in understanding cross linkages of various sectors including investment and global supply chains with the human rights. 2030 Development Agenda elaborates the framework for sustainable development and needs to be supported by all the stakeholders.
- The transnational corporations can help local businesses by sharing with them expertise to promote a corporate culture conducive for the promotion and protection of human rights. As part of the corporate social responsibility, these corporations must support the local communities in economic and social domains.
- Awareness raising and participation of all stakeholders can help in developing strategies to address business related human rights issues. The States have to play the roles of regulators and develop policies in line with their development objectives, international obligations and national priorities keeping in view the principles of inclusivity, transparency, accountability and equality. The rights of migrant workers need to be protected and their well being ensured. Internationally, the economic order and trading system needs to be more responsive to the needs of developing countries and reduce inequalities.
I thank you Mr. President.