Kufuor bemoans Africa's economic woes

Accra, Sept. 30, GNA - President John Agyekum Kufuor has intimated that Africa has abundant natural resources capable of propelling the continent on a path of economic prosperity to the benefit of all humankind.

He, however, wondered why in the midst of plenty, Africa only accounts for one per cent of the world's gross domestic product, two per cent of world trade and receives only 8.4 per cent of foreign direct investments to developing countries.

A statement, received in Accra on Tuesday said President Kufuor was speaking on the topic: "TICAD and The Way Forward - The African Perspective," at a forum held at the United Nations University in Tokyo, Japan.

Briefing a section of the presidential press corps from Tokyo, the Press Secretary to the President, Mr Kwabena Agyepong said, President Kufuor stated that TICAD embodies a vision of Africa's developmental efforts that enables Africa to develop on an even footing with its partners.

Africa and its leadership have through NEPAD, made the Third International Conference for African Development (TICAD III) relevant over the past decade.

NEPAD, he said, is a pledge by African leaders, to put Africa on a path of sustainable growth.

According to Mr Agyepong, President Kufuor said TICAD 1 and 2 provided a platform that kept the debate on Africa's developmental efforts alive at all levels.

TICAD 3 would further buttress the importance of ownership and partnership as a basis for Africa's development and co-operation. Africa, he said, is calling on the rest of the world to complement its efforts at determining its destiny.

African leaders, President Kufuor remarked, have the backing of the African Union (AU) in instituting democratic regimes that are committed to the protection of human rights, people centred development and market oriented economies.

The AU, he added, has also shown a resolve to deal with conflicts and censure any deviation from the norm.

President Kufuor, who was delivering his second address after Monday's plenary session also noted that TICAD fully shared the principles of NEPAD in Africa's developmental efforts.

He therefore, called for a continued dialogue on how best to implement NEPAD through TICAD; as this would mobilise sustainable international support as well as a high level political commitment. Over twenty-three African leaders are participating in the TICAD, which got underway in the Japanese capital, Tokyo on Monday, among whom are Presidents Thabo Mbeki, of South Africa, Olusegun Obasanjo, Nigeria and Abdoulaye Wade, Senegal. 30 Sept. 03