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Ottawa, May 4, 2004
2004-033

Canada Seeks Solutions for African Private Sector at First Meeting of Commission for Africa

Canada’s Minister of Finance Ralph Goodale today called for renewed efforts to help create a vibrant African private sector as a key element of eliminating poverty at his first meeting of the Commission for Africa in London.

"Like all Commissioners here today, I want to immediately begin building a more prosperous future for African citizens," said Minister Goodale, adding that despite recent signs of increasing democracy and moves towards constitutional governments, at least 70 per cent of the world’s poorest nations are in Africa.

"We simply cannot sit back and allow such a bleak outlook to continue," said Minister Goodale. "More efforts are needed to open global markets to African goods, unleash the African private sector and raise living standards for Africans."

"There is no question that aid is essential to eliminating poverty," he said. "That’s why Canada has been a leader in aid to Africa. However, unless you have a dynamic private sector no amount of aid can sustain an economy."

Minister Goodale noted that Prime Minister Paul Martin made this point in his United Nations report with former Mexican President Ernesto Zedillo, which concluded that no country can succeed without institutions that ensure stability and freedom from corruption.

Minister Goodale was named to the Commission for Africa on March 22, and will serve on its working group on the African economy. Created by British Prime Minister Tony Blair, the goal of the 17-member Commission is to generate further support for the G-8 Africa Action Plan and the New Partnership for Africa’s Development, announced during the 2002 G-8 Summit in Kananaskis, Alberta.

In addition to Minister Goodale, other Commissioners include UK Chancellor of the Exchequer Gordon Brown, Ethiopian Prime Minister Meles Zenawi, South African Finance Minister Trevor Manuel, Tanzanian President Benjamin Mkapa, former International Monetary Fund Managing Director Michel Camdessus, and Irish musician and activist Sir Bob Geldof.

Minister Goodale’s appointment is the most recent example of Canadian initiatives focused on Africa. Other measures include:

• annual increases in international assistance of 8 per cent over the past two years, with one-half of the increases devoted to Africa;

• legislation permitting drug companies to provide anti-HIV/AIDS drugs at low cost to African countries, making medical treatment more accessible to the estimated 30 million African citizens currently suffering from HIV/AIDS;

• the recent extension of the Least Developed Country Tariff for an additional 10 years, benefiting 48 of the world’s poorest nations (34 of them in Africa) by providing duty-free access to the Canadian market for all products except certain agricultural goods; and

• Budget 2004’s announcement of a debt moratorium for Rwanda and the Democratic Republic of the Congo under the Canadian Debt Initiative, joining Ghana, Madagascar and Zambia. All debts owed to Canada by Ethiopia, Senegal, Tanzania and Benin have been, or are in the process of being, eliminated under this program.

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