September 20, 2000 Egyptian Prime Minister Atef Ebeid on Tuesday assured that the Egyptian government seeks to back the African trend of its foreign policy. Ebeid demanded that the African states concert efforts and coordinate stands, especially at international organizations. The Prime Minister also stressed the importance of opening new markets and setting up joint ventures in a bid to increase the African share of international trade. He also advised that boosting inter-African integration has become a must so as to strengthen the economic situation of the continent. Prime Minister Atef Ebeid said Africa's debts problem is considered the biggest challenge facing the continent and hinders achieving a socio-economic development. Africa is now more qualified than any time ever to have a place on the international economic arena, Ebeid told the inaugural session of the third African trade ministers' meeting. The prime minister's speech was read out on his behalf by Economy and Foreign Trade Minister Youssef Boutros Ghali, the president of the meetings. The world has ushered into a new century, having new features; foremost is the technological advancement, and the information and communications technology, he said. The prime minister called on the Africans to deal with the new reality as a basic and important part in the world after some obligatory conditions pushed some parts on the continent into the margins, away from global political and economic decision-making. The inaugural session was attended by Foreign Minister Amr Moussa, deputy chief of the WTO for African affairs, the delegations of 40 African states, representative of regional and international organizations, including the COMESA and UNCTAD. Ebeid urged the major states and international financial corporations to float new ideas to solve the African foreign debt problem and ensure the fair implementation of the initiative to alleviate debt burdens over the highly indebted poor countries. In his address to the African session, the Prime Minister warned of the solutions proposed to the highly indebted poor African countries because they are not suitable for the conditions of such countries, who cannot shoulder the burden of debts along without support. The African states have already made brave and tangible steps to change their image through performing economic reform programmes and liberalizing foreign trade, but there are other steps that should be taken to merge into the world economy, Ebeid said. The draft final statement of the African trade ministers` third conference, which kicked off here on Tuesday, renewed a call for the establishment of a pan-Africa Free Trade zone. It praised progress made towards setting up two Free Trade zones grouping members of the Common Market for Eastern and Southern Africa (COMESA) and the Southern Africa Development Community (SADC). The African ministers decided to put off discussion of the new US development law, approved by the congress in 1999, on advice from Libya and Sudan. The bill grants 40 countries in the south of the African Sahara, privileges in the trade with the US including custom duties exemption, on condition they should improve their political, economic, and social conditions. The ministers also urged boosting the role of the private sector in African development projects. They underlined the importance of holding the fourth session of the World Trade Organization (WTO) before the end of 2001. The African ministers highlighted the importance of good preparations for the UN third conference on the least developed countries, due in Brussels in may. Economy and Foreign Trade Minister Youssef Boutross Ghali opened earlier in the day, on behalf of Prime Minister Atef Ebeid, the third conference of African trade ministers. The final statement will be issued Wednesday at the conclusion of the conference's two-day meetings. The fourth session of the conference will be hosted by Abuja, Nigeria, in December 2001. The African states are still confronting problems and challenges that need forming national policies and programmes besides global support, he reiterated. The Prime Minister referred to expectations that the total economic growth rate in Africa will rise to 4.4 percent instead of 2.3 percent in 1999. But he also warned of the decrease seen in the inflow of foreign investments to the continent during the past years. The prime minister finally said that the African governments are ready to boost group efforts to make a better life for the peoples of the continent and upgrade economic and trade cooperation to meet the ambitions of the peoples. _________________________________________________________________________ Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com. Share information about yourself, create your own public profile at http://profiles.msn.com.