A private sector forum to be held during an international gathering on foreign aid in Busan will be an opportunity for a better partnership between the public and private sectors in expanding international development, the Foreign Ministry said Thursday.

The Forth High Level Forum on Aid Effectiveness will be held at BEXCO Convention Center from Nov. 29 to Dec. 1. The forum will attract about 2,000 delegates including ministers, government representatives, lawmakers, civic groups and private sector representatives to discuss making international aid more effective in meeting the Millennium Development Goals.

About 200 leaders in the public and private sectors are expected to attend the private sector forum on Nov. 30, the ministry said.

Participants will include U.N. Secretary-General Ban Ki-moon, OECD Secretary-General Angel Gurria, Korea’s Foreign Minister Kim Sung-hwan, Federation of Korean Industries Chairman Huh Chang-soo and U.N. Global Compact Korea President Lee Seung-han.

The ministry said the Korean government suggested countries hold a private sector forum, as the private sector’s role is important in international aid, especially when major economies including the U.S. and European Union find it more difficult to expand aid amid economic downturns.

The ministry said both developed and developing countries are expected to declare a private and public sectors’ joint statement at the forum to build ways for a better partnership in development.

By Kim Yoon-mi (yoonmi@heraldcorp.com)