Notes for an Address by Prime Minister Jean Chrétien on the Occasion of the Commonwealth Business Forum

Abuja, Nigeria
December 4, 2003

As you may know, this is one of the final foreign addresses I have been asked to deliver after ten years as Prime Minister of Canada. That may explain, in part, the strong emotions I feel. But you have also asked me to speak about a theme that is very close to my heart, one that concerns the sustainable development of Africa – one that concerns the commitment of the Commonwealth to work together toward a common future.

This meeting brings together governments, businesses, social and environmental activists. We are here because we understand how much is at stake when it comes to addressing the many challenges facing the people of Africa.

We know that Africa faces major challenges including poverty, infectious disease, and regional conflicts. And we know that these challenges cannot be addressed by nations acting alone, however powerful. Harnessing the collective strength for the betterment of people through expanded partnerships and smarter sustainable development demands coordination and joint effort. In short, it depends on multilateralism.

Canadians join me in being great believers in multilateralism – in the need to understand the broader context of regional issues and the need to work together to overcome challenges together.

Understanding the broader context means learning from one’s own experiences. Ten years ago, I was elected by the Canadian people with a mandate to restore confidence in the country’s economic management.

In short order, with the hard work and commitment of the Canadian people, we were able to transform record-breaking deficits into record-breaking surplus budgets. We were able to put an end to double digit interest rates and unemployment figures.

This involved making some very difficult decisions, but as a government, we stayed the course and now Canada enjoys the most successful economic performance of the G8 countries.

We are very proud of our bottom line because it has allowed us to make investments in health, in children and families, in education and innovation, which have all, in turn, fuelled economic growth and prosperity. In that way, we put into place principles of sustainable development toward a better quality of life for Canadians.

Canada’s own experience, therefore, made us very receptive to the New African Initiative – the forerunner of the New Partnership for Africa’s Development, or NEPAD as we call it today. African leaders came forward with their vision for their continent.

It is a vision founded on freedom and democracy – and on the principle that the key to progress in Africa lies, first and foremost, with Africans. It was a new approach to development that emphasized the role of private enterprise in building prosperity.

It was a discourse I very much understood and one that Canadians understand. I felt that it was one the G8 would respond to as well and I resolved to bring it forward at the Kananaskis Summit in June 2002. There, joined by several of the visionary African leaders who created NEPAD, G8 leaders adopted an ambitious Africa Action Plan in support of NEPAD.

Last June in Evian, G8 Leaders renewed their commitment to keep Africa at the centre of the G8 agenda. We agreed that attention and resources must remain focussed on the needs of Africa.

NEPAD seeks new partnerships. Not only among Africans, but also between Africa and its partners abroad. It seeks to shatter the perception, all too deeply rooted, that investing money in Africa doesn’t pay.

Will NEPAD succeed in addressing the challenges Africa faces? We know that development that is sustainable depends on good governance, and on decision-making that integrates social, environmental and economic factors. This means that all sectors of society – including governments – have a role to play. We must coordinate our efforts. We must build partnerships.

NEPAD offers a practical feature to encourage partnership: the African Peer Review Mechanism. The mechanism identifies and shares best practices in governance. When implemented, those best practices will greatly help to bring about the political and social stability that is so vital to thriving businesses and growing economies.

Transparency, in political and economic governance is crucial. It makes leaders – politicians and corporate leaders – accountable and it provides citizens with information and opportunities to be involved in decision-making. Transparency ensures that good policies, once adopted, remain in place, and are modified as needed to overcome new challenges.

Governments cannot create prosperity. Their role is to create the conditions that create prosperity. Prosperity depends very much on our success in engaging the vibrancy, capacity, and innovation of partners in the private sector.

To sustain high levels of economic growth, Africa needs more private sector investment and more trade. We need to support the creation of the conditions that business needs in order to thrive. These conditions include democracy, the rule of law, and transparent, predictable and enforced regulations.

We also need to recognize that there will be little prospect for investment and trade if Africans are denied access to our markets. Globalization needs to be fair.

Let me assure you today that Canada is open for business from and with Africa. We opened Canada's markets to virtually all imports from Least Developed Countries, 34 of which are in Africa. And we incorporated rules-of-origin provisions that ensure that other African countries can benefit too.

To encourage private sector investment in Africa, we have established the Canada Investment Fund for Africa. This Fund provides $100 million in government financing, to be matched by the private sector. We also support the African Development Bank which helps African countries prepare projects and find funding for infrastructure initiatives. Practical assistance to small and medium-sized enterprises through the International Trade Centre and the Trade Facilitation Office supports African entrepreneurs who want to do business internationally and promote their exports.

All countries will benefit from thriving economies in Africa. Greater prosperity will create new foreign investment opportunities. A better quality of life will increase the number of consumers who can buy goods and services. Indeed, a cohesive and prosperous Africa, an Africa with a brighter future, means a more prosperous and secure world.

A significant challenge – an enormous burden – for many African countries is their debt loads. Choking debt hinders the ability of governments to meet the needs of their citizens. A debt reduction program for Highly Indebted Poor Countries is an essential part of our efforts to help Africa.

Helping countries reduce their debt burdens has been a priority for Canada. We have forgiven over $1 billion in foreign debt owed to us by developing countries. On January 1st, 2001, we stopped collecting debt payments from 11 indebted poor countries that have shown a commitment to reform.

The New Partnership for Africa’s Development presents a unique opportunity to turn a page in human history. Implementing its principles is not just the right thing to do for Africa. It is a good investment for all nations. It is an investment in our common future – in our collective security and common humanity.

Canadians believe – I believe – that the quality of life that globalization has brought to so many people of the world must be made available to all people of the world. To have real meaning and to be lasting, prosperity must be accompanied by progress and hope for all.

Thank you very much.

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