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G7 Transport Ministers' statement on transport infrastructure investments

Date: 12/10/2015

The global wealth pyramid of modern economies clearly illustrates that infrastructure and mobility are the foundation for growth, prosperity and jobs. This has never been more evident than today, when new technology offers extraordinary promise of enhanced mobility. However, this is also a time when conventional means of investing and delivering transport infrastructure are increasingly constrained. To realise the fullest promise that mobility holds, the Transport Ministers of the G7 states and the European Commissioner for Transport agree that new approaches must be adopted to transport infrastructure investments and project delivery in the same spirit of innovation as in the development of transport technology itself.

In terms of the delivery of modern, high-capacity and high-quality 21st century infrastructure, the G7 Transport Ministers specifically discussed:

  1. The need to identify adequate and sufficient resources and cost effective ways to modernize and maintain existing and build new infrastructure.
  2. The need to explore the opportunities and challenges of alternative means of paying for infrastructure including "user pays" systems.
  3. The need to continue collaboration with the private sector through the evolution of public-private partnerships (PPPs) in order to implement new strategies for modernising transport infrastructure, while ensuring maximum public benefit, efficiency, quality and fiscal accountability.

The G7 Transport Ministers agree to continue the dialogue on new approaches to funding and PPPs by engaging in an exchange of ideas and experience on best practices, including on strategies for the appropriate allocation of investment risks between the private and public sectors, options for ring-fencing sources of revenue, effective methods for controlling costs and an efficient and coherent regulatory framework for funding. The G7 Transport Ministers also agree to continue to engage on this topic at the next meeting in 2016 in Karuizawa, Nagano (Japan) under the Japanese presidency.

 
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