DEVELOPING TIMES: Senegal: President Wade Wants 'More Fair' Trade

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Saturday, October 6, 2007

Senegal: President Wade Wants 'More Fair' Trade

Katy Gabel
Washington, D.C.

Senegalese President Abdoulaye Wade has proposed a "level field" for free trade with Africa that would eliminate "unfair" agricultural subsidies and encourage investment across the continent.

Wade was speaking Friday at the Cato Institute, a libertarian think tank in Washington, D.C. United States agricultural subsidies are one of the major challenges facing African international trade, he said.

"We produce a marginal amount of cotton. The U.S. should subsidize African cotton – they would not even feel [the effects] of it, but we would all meet on a level field.

"We are for free trade… but more fair trade," he added.

Last year, Wade created what he calls the "Green Opec" – a group of energy ministers who form the Pan-African Non-Petroleum Producers Association (PANPP). Through the PANPP, Wade proposed a formula – known as the Wade Formula – which offers non-oil producing countries reduced prices, subsidized by wealthier and oil-producing nations in exchange for more biofuel and alternative energy production.

"We believe in the market economy," Wade said. "Unfortunately, Africa does not take much part in world economic trade… we would like to organize ourselves."

Wade also addressed increasing competition between the West and China in providing trade and aid opportunities for Africa. He expressed appreciation for assistance from Western nations, but noted that "with China, if [the answer is] yes, [a response] is immediate," and "Africa does not have time to wait indefinitely."
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