Ghana is ready to host UNCTAD XII

Accra, July 26, GNA - Trade and Industry Minister, Mr Alan Kyerematen on Thursday assured stakeholders that the country was ready to host the rest of the world to the United Nations Conference on Trade and Development (UNCTAD XII), come April 2008.

Over 5,000 people from all over the world are expected to attend the six days conference in Accra between 20 and 25 April, 2008. Briefing the media on the preparations so far for the conference, Mr Kyerematen said the overall assessment had indicated that the country was on course of hosting a successful conference.

The Minister described the selection of Ghana as an honour and a reflection of the leadership role the country had played and continues to play on the world stage in the dialogue and debate on trade and development.

However, he said, there was the need to organise adequately in order to continue and perform effectively the duties of Ghana as the president of the conference as well as the national secretariat. He said to ensure the success of both UNCTAD XII and the first World Investment Summit, the Ministry had since March 2006 constituted 20 task teams to undertake various activities to ensure successful organisation of the conference.

UNCTAD's member states have chosen "Addressing the Opportunities and Challenges of Globalisation and Development," as the theme for ministerial conference.

The conference will look at the various economic impacts of globalization, including its effect on poverty reduction, wealth and employment generation and income distribution and assess how some countries have been able to benefit from globalization, while others have not.

Mr Kyerematen said aside the main theme, there would be a high level segment of the conference to be attended by selected Heads of State from around the world as well as top Corporate Business Executives on the theme: Trade and Development for Africa's Prosperity: Action and Direction."

The Minister said a major attraction of UNCTAD XII was Ghana's proposal to organise concurrently the first World Summit on Investment, which would bring together global business leaders from around the world as well

as dynamic, high growth small and medium enterprise executives to network and engage in dialogue on core issues related to investments, and how developing countries, particularly Africa could attract more of such investments.

"This is the first time in the history of UNCTAD conferences that both trade and investments will be taking full centre stage without the latter being marginalised," Mr. Kyerematen said. Ms. Jo Butler, leader of the UNCTAD technical team said the conference would also examine South-South trade, investment and aid as tool for economic development. Other issues to be considered will be the rise in trade in services, the related expansion in international labour migration, and climate change.

26 July 07