The G7 CONNEX Initiative.
Fit for purpose?
Myriam Carius/Opemiposi Adegbulu
June 2015; 4 pages
The G7 CONNEX Initiative was one of the key points to be discussed at the G7 Summit in Ilmenau, Germany in June 2015. It was launched in June 2014 to assist resource-rich developing countries with negotiating complex contracts, particularly in the extractive industries in order to foster the “right enabling environment” to use resources generated from the extractive industries to “make a huge contribution to reducing poverty”. In the current Global Governance Spotlight, Myriam Carius and Opemiposi Adegbulu look at the initiative from the perspective of resource-rich developing countries to which the Initiative appears to be addressed. They assess whether the initiative brings any new or added value to existing mechanisms on the negotiation of complex contracts and suggest alternative ways in which the G7 can provide active and sustainable assistance to resource-rich developing countries in relation to complex investment contracts.