President Kenyatta optimistic of Africa’s economic transformation
President Uhuru Kenyatta has voiced his optimism for Africa’s push to be part of the global economic transformation.
Speaking when he official opened the 10th World Trade Organisation (WTO) Ministerial Conference in Nairobi, President Kenyatta said investment in Africa records higher rates than any other continent in the world saying with goodwill the continent can be one of the strongest economically.
“Investments in Africa record higher rates of return than in any other region in the world. We need the goodwill and support off the rest of the world.”
“Seize this moment, reach for mutually beneficial compromise and allow yourselves no results except success. We eagerly await a new order of sustainable development,” he said.
President Kenyatta noted that Africa is ready to do all it can to ensure the success of the WTO conference calling on delegates to find a positive outcome of the conference.
“The world will change for the better from an Africa that trades more good and services,” stated President Kenyatta. “Africa’s exports of goods grew by 500 % from 1995-2003.”
“Agriculture is the most important sector for Africa, majority of our people depend on it,” stated Kenyatta.
“Distortions in this sector have prevented us from discovering its full potential. Africa’s farmers cannot compete with other subsidised farmers from developed countries.”
The Head of State also noted there was need to align global trade with developmental goals urging African counties to booster trade with each other.
“Even as we seek a deeper and more beneficial role, boosting regional trade is also key,” stated President Kenyatta. “Regional trade will boost growth and create jobs.”
Ugandan Prime Minister Dr Ruhakana Rugunda noted that trade will lift millions of Africans from poverty saying Africa is the continent of hope and immense potential.
“Africa has about 14% of the world’s population, we continue expanding our energies to get out of poverty,” said Rugunda. “Trade will play the lead role in this quest. Africa is the continent of hope, promise and potential.”
Director General of WTO Roberto Azevedo accepted the power of trade to change people’s lives.
“We have seen the power of the world acting as one,” stated Azevedo. “Kenya has set the stage, it time for us to deliver.”
In her speech, Liberia’s President Ellen Sirleaf Johnson expressed hope that her country would benefit from the WTO once the ascension goes through.
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