The Monitor (Kampala)

Uganda: Expert Cautions On Free Trade

Kampala — A leading economist has warned that liberalisation may not lead to economic growth in Africa. "Emerging evidence suggests that although Africa has liberalised extensively, this openness has not translated into growth. We have therefore argued that Africa should learn from Asia and not liberalise blindly, but should adopt dynamic trade policies," Mr K.Y Amoako, the executive secretary of the Economic Commission for Africa (ECA), said in his opening address at the start of the ECA experts meeting at Speke Resort Munyonyo on May 18 ahead of the ministers of Finance African Development Bank meeting.

He was citing the Economic Report on Africa 2004. The ministers startedarriving yesterday for the function due to begin on the weekend. The focus of the ECA meeting is trade and how to improve the continent's trade performance. Experts spoke of poor access to world markets but added that Africa needs to strengthen its own capacity as well.

In 1980, Africa's share of world trade was 6.3 percent, compared to 2.5 percent currently. Mr Robert Okello, the ECA director, said that a lot needs to be done within Africa, in order to benefit from "whatever access we are able to get."

This week's meetings are part of a process, which began at a meeting in Accra, Ghana, before Christmas last year, which should help establish an African negotiating position for the next round of world trade talks.

In his opening address, Mr Gerald Ssendaula, the minister of Finance said: "Africa's collective voice will send a strong signal to the developed world."


Copyright © 2004 The Monitor. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica aggregates and indexes content from over 130 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.

Comments Post a comment