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African Economies Need Transformation: Sudanese President
African economies must be transformed from primary and raw materials exporting to high value added clean producing centers, said Sudanese President Omar Al-Bashir Sunday in Kampala.
Addressing the ongoing Global 2001 Smart Partnership Dialogue in the Ugandan capital Kampala, Bashir said: "We (Africans) have to pursue a partnership that would help in the difficult process of this historic transformation."
Bashir called on all stakeholders in African economies to understand the essential preconditions for successful foreign direct investment.
"Africa must pursue market-based economic reforms, but can not be created by policy announcement or by dictate," he said.
"It involves a deep process of economic restructuring and creation of the necessary social and legal infrastructures needed for orderly functioning of the market," Bashir explained.
The president pointed out that "Africa has to uphold private property rights, secure prompt access to independent and honest judicial practices and good governance principles."
He warned that arbitrary interventions must give way to objective and enlightened control, therefore enhancing fair competition.
Bashir told his colleagues that in the framework of critical international conditions, the opportunities and rewards of globalization do not spread equally.
"The assessment of the impact of the World Trade Organization (WTO) on Africa's economies would be in the negative for a considerable run of time, unless major reforms are carried out," said Bashir.
He argued that Africa must learn to work together, building collaborative agreements and alliances in all areas of investment and trade.
"This is imperative to enhance our power to respond to global challenges. Political stability amongst us is the overall precondition for successful partnership," the president said.
Bashir said: "State failure and collapse of order would bring only ruin and chaos. We cannot afford to resolve internal conflicts and tension other than by peaceful dialogue and peaceful negotiations."
About 60 participants from 23 countries, including half a dozen presidents and prime ministers, are attending the Smart dialogue, which pursues for objectives that are Sustainable, Measurable, Achievable, Realistic and Timely.
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