IoM Highlights Importance Of International Cooperation

by Jason Gorringe, Tax-News.com, London

09 September 2011

The Isle of Man's Chief Minister Tony Brown has highlighted the importance of international cooperation in securing the future wellbeing and prosperity of small nations around the world.

He said the Isle of Man had worked very hard over recent years to develop productive links with many countries and institutions, adding that a collaborative approach remained essential if developing nations were to thrive in the global arena.

Brown's comments came in addressing a reception for the Small Countries Financial Management Programme (SCFMP), an initiative led by the Isle of Man government in partnership with the World Bank, the Commonwealth Secretariat, the Small States Network for Economic Development, and the University of Oxford.

Brown said: “All of us in small countries face special challenges, whether we come from the Caribbean, the Pacific, the Indian Ocean, Africa, the Balkans, or this island in the middle of the Irish Sea. We all have to deal with much bigger and more powerful countries and, in various ways, we all have been, and continue to be, affected by the fallout from the global financial crisis. As we know only too well, it remains difficult – but vital – for small countries to have their voices heard in international arenas. We are a valuable contributor to the economies of the larger nations; something which many of them misunderstand or do not recognize.”

The Chief Minister praised the work of the Small Countries Financial Management Programme in helping to equip smaller nations with the knowledge, skills and experience to enhance their standing within the international community. This year’s programme welcomed 24 participants to the island from 21 different nations for an "intensive learning experience".

Sessions covered a range of topics designed to assist in developing a deeper understanding of the global economy, offering an insight into developments in the regulatory field, and improving negotiation techniques.

"We are extremely proud of our involvement with the Small Countries Financial Management Programme. It is a unique educational experience, drawing as it does on the Island as an international business centre and our ongoing partnership with Oxford University. The programme delivers a rare combination of world-class strategies for managing change, taught by professors from Oxford, London and Harvard, and technical sessions from experienced regulators and practitioners," said Brown.

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