Statement by Mr. Levent Eler, Deputy Permanent Representative of the Permanent Mission of Turkey in the General Assembly Thematic Debate on "Promotion of Investment in Africa and Its Catalytic Role in Achieving Africa’s Development Objectives, Including Those of NEPAD
As we are at the crossroads of defining the post-2015 development agenda, it is important to have a comprehensive discussion on how to achieve and finance Africa’s sustainable development. We believe that today’s debate will significantly contribute to the elaboration of this issue.
While official development assistance is one of the major sources of finance for Africa’s development, the amount being provided is below the UN target of 0.7% of donors’ national income. In addition, ODA is not a sustainable and predictable source of financing. Promoting domestic and foreign direct investments as well as encouraging international trade are some of the areas outlined by the Monterrey Consensus as better ways of financing for development.
Proper utilization of Africa’s economic potential through trade and investment will significantly contribute to achieve economic development and generate wealth for the Continent. Thus, engaging the private sector in partnerships for development in the long run is essential. Implementation of Public Private Partnership (PPP) models is instrumental to mobilize additional financial sources for sustainable development. It also increases effectiveness and productivity through the engagement of private sector`s skills, technology and know-how.
Within this context, it is also essential to promote the development of small and medium enterprises. Their dynamism is decisive in ensuring sustainable growth and decreasing unemployment, thus alleviating poverty.
Attracting investments also require a positive investment climate, which can only be achieved by good governance, sound and adequate infrastructure and a well-educated and dynamic human capital. Africa has been making significant progress to ensure the positive climate for business through improvements in these elements. International support should continue unabated to keep this momentum.
With that in mind, Turkey promotes direct investments to Africa besides its large-scale development aid. Let me on this occasion remind that the Second Turkey-Africa Partnership Summit to be held in Equatorial Guinea in November will convene under the theme “Building a Lasting Partnership for African Development and Integration”.
As two thirds of the Least Developed Countries are in Africa, supporting LDCs and promoting investment in these countries are another means to uplift Africa’s economic performance and investment climate. Timely and effective implementation of and international support for the Istanbul Programme of Action for LDCs are of crucial importance in that sense.
In closing, I would like to underline that Africa’s ownership, leadership and regional integration efforts are vital in creating a friendly atmosphere for investment and ensuring the sustainable development of the Continent, which are also basic elements of NEPAD. Turkey will continue to strengthen its partnership with Africa on the basis of these principles and NEPAD priorities.