Asia-Africa trade forum set up

Asia-Africa trade forum set up

KUALA LUMPUR (AFP): Executives from Africa and Asia were
arriving in the Malaysian capital Monday for the launch of a new
business forum aimed at dispelling Africa's image as a continent
of corruption, conflicts and crises.

The United Nations Development Program (UNDP), joint organizer
of the Africa-Asia Business Forum, says much of Africa is
actually a good place to do business.

For the vast majority in Asia, according to a statement issued
by the UNDP, "Africa has been generally characterized by economic
depression, military conflicts, unstable political regimes and
mounting social and health problems.

"What is not known is that there have been positive
developments in Africa that are highly relevant for local and
foreign investors and for expanded trade relations with the
countries of Asia."

To dispel some preconceptions, executives of 149 companies
from 25 African countries and of 129 companies from six Asian
states will meet from Tuesday for four days of discussions and
deal-making.

Ken Fujimura, senior adviser on South-South cooperation at the
UNDP, said the executives from small and medium-sized enterprises
would discuss franchising, joint ventures, agency agreements and
licensing deals.

Prime Minister Mahathir Mohamad, a strong supporter of South-
South cooperation, is due Tuesday to open the forum. It is
organized by the UNDP, the Malaysian government, the World Bank's
Multilateral Investment Guarantee Agency and Malaysia's South
Corp Bhd.

"Now Africa is changing," Fujimura told AFP. "A number of
countries have five percent or more economic growth and there is
a new generation of politicians ... and less corrupt
governments."

The forum is financed by the Japanese government, with African
delegates paying their own fares.