The Hindu Business Line : African Union bids to lure investments

THE ANDHRA PRADESH Finance Minister, Mr K. Rosaiah, greets Mr J. Bentum Williams, High Commissioner of Ghana, at a seminar on `Showcasing Opportunites: India-Africa Project Partnership' in Hyderabad on Wednesday. The Ambassador of Ethiopia, Ms Gennet Zewide, and Mr G. Vivekanand, CII Chairman, are also seen. - Mohammed Yousuf

Hyderabad , Aug. 9

African countries have expressed hope that they could resolve the inter and intra-country differences by effectively using the African Union (AU).

Besides helping the strife-ridden member countries to find solutions, the AU is actively working to attract investments into the continent.

Ms Gennet Zewide, Ambassador Extraordinary of Ethiopia, told Business Line that the African countries used to invite peacekeeping forces of United Nations to resolve bloody conflicts in some countries. "But it has changed. The AU is addressing such issues now," she said, citing the efforts of AU peacekeepers in Sudan and Burundi.

SCOPE IN ETHIOPIA

Responding to a question on the investment opportunities in a strife-torn continent, she said things were changing and the union was in the process of facilitating conflict resolution and ensuring a congenial environment for attracting foreign investments.

She was part of the AU delegation here to take part in the India Africa Project Partnership-2006 organised by the CII here on Wednesday.

"Earlier, we used to look at others for helping us in resolving these issues. Now, we have started looking for the solutions within the union," Ms Gennet Zewide said.

"We (the African nations) have started discussions on issues like good governance, transparency, good governance and elimination of corruption," she said. "A number of countries have evolved good investor-friendly policies, offering incentives. We have started opening up our markets to attract foreign investments," she added.

Mr J. Bentum-Williams, High Commissioner of Ghana, said the union had a few regional organisations, working for co-operation and development.

REGIONAL MARKET

For one, COMESA (Common Market for Eastern and Southern Africa) that offered a regional market, covering 20 countries in Eastern and Southern Africa with a total population of 380 million.

"They aim at strengthening capacities for conflict resolution. The heads of States have begun to engage in talks trying to find solutions. The union comprises a mechanism for a serious peer review," he said.

On investment opportunities in Ethiopia, Ms Gennet Zewide said her country offered huge opportunities in agriculture, livestock, manufacturing and mining.

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