Africa Speaks Reasoning Forum

AFRICA AND THE DIASPORA => General African News => Topic started by: Ayinde on May 22, 2004, 10:00:28 AM

Title: African unity a must to fairer trade with the West
Post by: Ayinde on May 22, 2004, 10:00:28 AM

KAMPALA, May 21 (Xinhuanet) -- A good humored Ugandan President Yoweri Museveni called Friday afternoon in his country's capital Kampala for African unity in trade talks with the West to stop the continent from "exporting dollars," claiming the current global trade system benefits the industrial world at the cost of Africa's economy.

Declaring opening of the Economic Commission of Africa's meeting of African finance and economic ministers, Museveni began his hour-long speech with an introduction to trade, explaining demand as the combination of desire and ability to buy.

"Africans have got ... desires, but they don't have the ability to pay," Museveni said.

The President attributed African's lack of purchasing powers to the unfair trade policies practiced by western industrial countries, saying that without access of African products into the West, the world's poorest continent can't develop commercial agriculture.

The president's remarks were supported by the South African Finance Minister Trevor Manuel, who said in a speech read on behalf of him that the West uses tariffs and subsidies to diminish the competitiveness of African products, especially finished products with added value.