Assist Africa To Reverse Her Dwindling Fortunes - President

President John Agyekum Kufuor yesterday gave a strong indication of the need for immediate collaboration to solve global challenges, particularly those affecting Africa. "Immediate measures should aim at reversing the dwindling fortunes of Africa in the global regime. The continent's share of export trade fell from 5.5 per cent in 1960 to about 2.1 per cent in 1995," he told delegates and participants at the opening of the 12th United Nations Conference on Trade and Development (UNCTAD) in Accra. President Kufuor described colonisation as "the first wave of globalisation", which introduced some imbalance in the world economic system. "Therefore, at the threshold of this second wave, globalisation must be driven by a high moral imperative to ensure it does not leave in its trail any losers. It should prove beneficial to all and detrimental to none," he added. He said UNCTAD had to be seen as the unique opportunity to give a boost to the fight against poverty and human indignity, and strategise to assist Africa and other developing nations of the world to overcome their underdevelopment, for all to reap the full benefits of globalisation. Recalling the inaugural session of the conference in Geneva in 1964, President Kufuor said the overarching mandate then was to help developing economies and economies in transition to integrate fully into the global economy. Trade, he said, became an important tool for development, poverty reduction and bridging the gap between rich and poor countries. However, global trade rules that were skewed against developing countries saw the initiation of special provisions, such as the Official Development Assistance (ODA) and the Foreign Direct Investment (FDI) to redress that imbalance. "Sadly, past efforts at attaining this noble objective have been far less than wholesome. The developed world has displayed half-hearted commitment and cynicism, while the developing world also exhibits resignation and scepticism," he said. Emphasising the intricate linkages between development goals and policies of nations on one hand and the global economic landscape on the other, President Kufuor charged participants to use the conference as an opportunity to review the processes of empowering nations to meet the ever-changing challenges and conditions of globalisation. He listed fair market access through special and differential treatment, especially the progressive reduction of subsidies by developed nations, South/South co-operation, aid for trade, FDI, and ODA, as issues that deserved attention at the conference. He said these issues impacted directly on the productive and trade capacities of developing countries. He also asked that deliberations at the conference should emphasise the symbiotic relationship that had to exist between the World Trade Organisation (WTO) and UNCTAD. He said the conference had to be used to review the situation of WTO, and urge moderation of the positions of members. The United Nations (UN) Secretary-General, Mr Ban Ki Moon, called the international community to act now could trigger a cascading effect of the current high food prices on many countries. Sharply rising food prices have triggered food riots in recent weeks in Mexico, Morocco, Senegal, Uzbekistan, Guinea, Mauritania, Burkina Faso, Cote d'Ivoire and Yemen and agencies around the world worry they may be unable to feed the poorest of the poor. The UN head said the UN was ready to move into action but would require the support of the international community for any action to succeed.