Ministers discuss better management of Africa's natural resources

ECA Press Release No. 01/2007

Addis Ababa, 01 February 2007 – Ministers from several African countries today began informal discussions on how to better manage Africa's natural resources for economic growth and poverty reduction on the continent.

They are meeting within the framework of the ‘Big Table', an informal consultation between African senior policy makers and their counterparts from the Organization for Economic Co-operation and Development (OECD) countries, which opened in Addis Ababa.

The Big Table is an initiative designed by the Economic Commission for Africa (ECA) to promote frank and constructive dialogue between African sectoral ministers and their OECD counterparts. The format and agenda are designed to allow for maximum interactive dialogue, with no formal statements. The event is organized by ECA in collaboration with the African Union and the African Development Bank.

Ministers from Ethiopia, Ghana, Liberia, Rwanda, Sudan and Uganda are attending the forum. Richard Manning, the Chairman of Development Assistance Committee of OECD, Peter Eigen, Head of Extractive Industries Transparency, and representatives from DFID and USAID are also in attendance.

With Africa representing large percentages of the world's reserves of gold, platinum, and other precious minerals, natural resource management and its influence on poverty reduction on the continent is a hallmark of the New Partnership for Africa's Development (NEPAD). The challenge is to make natural resource extraction a cure rather than a curse for Africa.

The issue is a manifestation of NEPAD's new "compact" between Africa and its external partners. This compact calls for African countries to undertake the political and economic reforms needed to place their economies on a path towards sustainable growth. In turn, external partners would invest -- through aid, debt relief, and market access – in the resources needed to help African countries in this effort.

The last Big Table took place in Addis Ababa, in January 2003. Participants discussed the implications of the international consensus emerging from Doha, the Monterrey Conference on Finance, and the World Summit on Sustainable Development.

Before that, the second Big Table took place in Amsterdam in October 2001. It considered key issues relating to the new African development framework.

The first Big Table was held at the ECA headquarters in Addis Ababa, and discussed pro-poor growth policies. It is credited with placing the focus on transforming Africa's development relationship with its partners.