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NEWS : Local News  

Sierra Leone's Trade Minister Excels in Brussels
By Chernor Ojuku Sesay, Information Attach, Sierra Leone Embassy, Brussels/EU
May 8, 2009, 17:34
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Sierra Leones Trade and Industry Minister, David O. Carew displayed what most of his colleagues at the Brussels conference termed as a "splendid performance" during the opening day that warranted his colleagues to unanimously nominate him to serve as President.

David Carew Excels in Brussels

In his role as President, he presided over the conference throughout the period of deliberations and reported, on behalf of his colleague Ministers of Trade from the ACP countries, the outcome of the ACP (African, Caribbean and Pacific countries) deliberations and resolutions during the joint ACP-EU conference on Thursday, 7th May at the Charlemagne Building in Brussels.

In his presentation as President during the joint ACP-EU meeting which was attended by top European officials including Commissioners Baroness Catherine Ashton and Louis Michel, Hon. Carew informed the gathering that the joint committee was established to address important trade issues in the multilateral and bilateral arenas of WTO (World Trade Organization) and the ACP-EU cooperation.

He added that the meeting is taking place as most of the states grapple with the devastating effects of the current global economic and financial crisis, contrary to initial assertions that the financial crisis would not affect low-income countries. "It is fitting therefore to exchange views on the impact of the crisis on trade and explore what possibilities exist within our cooperation to assist the most seriously affected countries as the impact of the current financial and economic crisis in ACP states is characterized by a slowdown in growth, decline in export earnings, job losses in sectors such as mining and forestry, a food crisis and depreciation of exchange rates", Carew stated.

He further disclosed that the crisis is also illustrated by instability in financial systems, decline in remittances and tourism receipts and an expected fall in foreign investment and aid.

Mr. Carew observed that while developed countries have already put in place stimulus packages to cushion the effects of the crisis, the budgetary constraints in ACP countries restrict their ability to respond effectively. He appealed for efforts to be made at the international level to ensure that the financial crisis does not impact negatively on aid commitments.


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