Much Expected for Global 2001 Smart Partnership Dialogue

Across section of both government and the private sector business community from developing countries are meeting in Uganda's capital Kampala to map out ways of managing and increasing awareness of both positive and negative aspects of Foreign Direct Investment (FDI).

Led by high-profile government executives, including five African heads of state who arrived here on Saturday, the delegations from 23 countries are meeting for the four-day's Global 2001 Sustainable, Measurable, Achievable, Realistic and Timely (SMART) Partnership Dialogue at Kampala's Speke Resort from August 18 to 21.

Addressing the opening ceremony here on Saturday evening, Ugandan President Yoweri Museveni said that African countries have lagged far behind the world's developed countries, hoping that the Smart Dialogue will find solution and measures for the continent's rapid development.

The Ugandan president called for more foreign direct investment in the region so as to promote its economic progress.

Over 600 participants, both members of the public and private sectors, are here on collective basis to air out their views of managing FDI, and hope to reach conclusive business dealings.

Peter Kaleso, Malawian Minister for Commerce and Trade, told Xinhua that his government expects the dialogue to address issues concerning FDI be amicably resolved at the end of it.

"This dialogue should come up with feasible measures and resolution that should be effected at a think tank level reached on amicable level," said Kaleso.

"The issues concerning communication infrastructure be addressed urgently, for it is one of the factors that keeps off many foreign investors from African low developing economies," he said.

Kaleso said that participants, especially at government level, need to brain storm on this issue, coupled with the urgency to address the risks involved in investing in much of African economies.

Elly Manjale, the Executive Director of the East African Business Council, expressed interest to sell the vast untapped business potential in the region.

"We are out here to woo more investment in the East African region. The vast un-exploited natural resources in the region can only be sold during such partnership dialogue," said Manjale.

"Top on our agenda is to woo foreign investment in the region, targeting investment in the communication, tourism and information technology sectors," he said.

Malaysian Martin Khor, Executive Director of the Third World Network, a non-governmental organization, said that what is important in the low developing countries is to re-examine global rules of the World Trade Organization that have impacted heavily on the African economies.

"During this dialogue, both the African private and public sectors need to brain storm and re-examine the WTO rules, unite and call for change favorable rules in business arena," said Khor.

"Most importantly, introduce rules that penalize local companies that abuse collective rules and regulations reached and various business treaties among the developing countries," he said.

Dick Musisi Mpiima, the Chairman of Import and Export Association of Uganda, expects the dialogue to address matters of market and tariff barriers among the member states of the Smart Partnership.

"We need to be honest to each other, resolve to remove market and tariff barriers that have hindered trade among the partnership members," said Mpiima.

The Secretariat of the Global 2001 Smart Dialogue said in a statement that the dialogue is a continuous process, which affords representatives from government, business and labor across participating countries, a major opportunity for developing cooperative management skills.

The secretariat said the process of Smart Partnership provides individuals and organizations opportunities for sharing experiences and aspirations, and aims to promote inter- and intra- regional cooperation and knowledge transfer.






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