|ITC PROMOTES INCREASED GOVERNMENT PROCUREMENT FROM WOMEN VENDORS|
Aruba, December 16th, 2011 - The International Trade Centre (ITC) is bringing together high-level experts from around the world to lay the groundwork for building the capacity for women business owners to win at least five percent of contract bids from government agencies.
“There is an enormous opportunity to leverage government procurement given that government expenditure can constitute 50% or more of GDP, with procurement accounting for up to half of spend; building the capacity of women business owners to win at least five percent of contracts is an investment in growth and development.” said Patricia R. Francis, Executive Director of ITC.
Women entrepreneurs are a growing economic force, with estimates of more than 35 percent of firms worldwide with women as participant owners. Yet women business owners often have limited information on government procurement guidelines and regulations, limited knowledge about selection and bidding procedures, and may be unaware of opportunities to bid for contracts.
The Roundtable on Government Procurement on Sourcing from Women Vendors, will be moderated by the former Mayor of Atlanta, Shirley Franklin, who in her 10-year term as mayor, ensured that minority-owned firms (women and ethnic minorities) were able to successfully compete for Olympic Games-related contracts.