"Domestic economy basis for development in Africa"

UNCTAD Secretary-General Supachai Panitchpakdi, Minister for International Development Cooperation Gunilla Carlsson and Lesotho's Minister of Finance, Timothy T. Thahane. Photo: Simon Hoff/MFA

• The key to success for developing countries in Africa lies with the countries themselves. They must quite simply get better at making best use of their own domestic resources. This was the main message when UNCTAD Secretary-General Supachai Panitchpakdi and Minister for International Development Cooperation Gunilla Carlsson presented the UNCTAD 2007 Economic Development in Africa report.

• The report highlights the fundamental importance of savings and investments on the part of African countries if they are to have more control over their economies and not become dependent on development assistance. An efficient central administration that puts economic development high on the agenda is essential for success in this area.

• "And here we have an important role to play," says Gunilla Carlsson. "As cooperation partner and donor country, we can contribute our knowledge, give economic support and serve as advisers."

• The panel at the launch of the report also included Lesotho's Minister of Finance and Development Planning, Timothy T. Thahane.