African trade ministers consider setting up common market
Egypt-Regional, Economics, 10/2/2001

Egyptian Minister of Economy and Foreign Trade Youssef Boutros Ghali called upon the African countries to work out a balanced and positive agenda for the issues to be raised during the fourth ministerial conference of the World Trade Organization (WTO), due to convene in Doha in November.

Ghali said the developed countries must extend technical assistance to the African Developing states in a way that conforms to the WTO agreements.

Ghali said in an address to the fourth ministerial meeting of the Organization of African Unity (OAU) that convened in Abuja, Nigeria last week.

The conferees reiterated the importance of abiding by the multilateral trade system's rules so as to facilitate the integration of the African economy into world economy, Ghali added in his speech, delivered by Al-Said Kassem, Chairman of the Trade Representation Body and Head of Egypt's delegation to the conference.

"The African trade ministers asserted that preferential treatment of the developing countries is one of the main principals of the new world trade order, besides giving priority to achieving development, facilitating the transfer of technology and giving the opportunity to the developing countries' agricultural products to penetrate into the foreign markets," Ghali said.

Economic integration among African countries is necessary to set up the common market in the year 2005.

This, in addition to achieving the utmost benefit from regional groupings and agreements signed between African countries and the other states, he added.

The participants also asserted the importance of getting acquainted with potentials of trade and investment in Africa and underlined the need to take part in the 8th Pan-African exhibition, to be held in Cairo in April, Ghali added.

Previous Stories:
  Egypt underlines African economic integration   (9/25/2001)
  Arab financiers to help development activities   (9/17/2001)
  Egyptian economy on sound track   (9/12/2001)

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