Asks money managers to invest in real sector
⁃ Says Africa needs capacity building
Akwa Ibom State Governor, Udom Emmanuel, has tasked developed countries to not restrict the free movement of labour across borders , so as to facilitate fairness in global trade . “If we say the world is a global village “ where goods and services are freely exchanged, he argued that the freedom of labour should follow suit and therefore not be inhibited.
Speaking during his keynote address at the “Trade for Peace” themed 7th London Political Summit and Awards at the House of Commons ( Committee Room 9) in Westminster on Wednesday , Emmanuel also , during the questions and answers session, threw down the gauntlet at international funds managers , asking them to invest in the real sector of the economy and not merely be satisfied with pocketing the returns on their capital and then moving elsewhere .
Earlier in his welcome remarks, the Parliamentary host , Paul Bristow, Member of Parliament for Peterborough, noted that “trade breaks down barriers,” and that “the place to drive economic growth is Africa,” because of its huge youth population , among others.
However, Emmanuel lamented in the keynote speech that Africa needs “capacity building “ for her people to achieve internal peace . He reckoned that poverty and unemployment are some of the reasons why there’re conflicts in some parts of the continent. “What we need first is internal peace ,” and “if Africa has that , we can then talk of peace.”
Emmanuel, who with others was held up on his way out of the Houses of Parliament by climate activists’ – some of whom were physically carried of the road in front of parliament by policemen- mentioned lack of capacity as very key to the development of Africa. “Our number one goal in Africa is capacity building .” For this to happen, he said “the developed nations must help us “ through collaboration and transfer of technology .
Peace, according to him, is what will promote trade and not vice-versa. Noting that :”Africa has about 30 percent of the world minerals deposits,” the governor posited that “it’s the peace that will promote the trade and not trade that will promote the peace.”
He reiterated the fact that “there’s no capacity building in Africa.” “Unemployment ,” he argued “is not the issue, but capacity building.” Emmanuel, who , before jetting to London , hosted the flagging off of the Peoples Democratic Party, PDP presidential campaign of the party’s flag bearer , Atiku Abubakar , in the state capital, Uyo on Monday , told the gathering that “the level of unfair trade that started in Africa is one reason why there’s restrictions on movement of labour .”
Summit chairman, Professor Kishan Devani, commended the governor for speaking “frankly” about the issues. Aside delivering the keynote address, Emmanuel was honoured with the “Political Governor of the Year Award, which was presented to him by Bristow.
