Minister Sinon attends Korea-Africa forum |22 September 2010
The conferences started in 2006, signalling South Korea’s wish to deepen its economic cooperation with Africa for development and growth. The experiences that lifted the Korean economy from the ruins of war, colonialism and poverty to become one of the world’s top 10 economic powerhouses have been on offer so that Africa could benefit from its successes and learn from its failures.
Mr Sinon, Minister for Investment, Natural Resources and Industry, also attended the conference in 2008 when he was executive director of the AfDB. This year he was accompanied by Seychelles’ honorary consul in Korea, Mr Jeong.
The theme of the conference this year was Africa rising together with Korea, and the meeting was seen as timely as South Korea prepares to host the G-20 Summit in November.
Apart from focusing on networking, site visits and areas for cooperation, one key objective on the agenda was to entrust Korea with the responsibility of ensuring that Africa’s voice and concerns will be discussed at this summit.
On behalf of Africa, a comprehensive document was handed over to the Korean Minister of Finance and Strategy by AfDB president Dr Donald Kaberuka.
Minister Sinon raised the issue of piracy and of fragile or failed states that should be given particular attention. He highlighted the national, regional and international dimensions and concerns of this scourge, while saying that the root causes of open conflict on the African continent have in many instances been contained and reduced.
Sustaining ceasefires has in some instances been possible because of such facilities as the AfDB’s previous “post-conflict facility” and current “fragile states facility”.
Such specifically targeted help has done and continues to do a lot to demonstrate the dividends and socio-economic gains of peace and stability.
Mr Sinon urged enhanced support for such facilities and greater attention to resolving conflict and its negative side-effects such as piracy which, if allowed to proliferate, will hinder the investment and trade that are at the centre of Africa’s future growth.
The conference took note that particular attention at the highest level needs to be given to this scourge.
The second core agenda item of the conference focused on presenting progress in identified priority areas for cooperation, mainly in infrastructure, science and technology, agriculture and rural development, small and medium enterprises, information communication technology, energy and mineral resources and “green growth”.
Mr Sinon highlighted the critical importance and potential of maritime resources. He said given Africa’s strategic geographical location, bordering the Indian and Atlantic Oceans and the Mediterranean Sea, the sustainable exploitation of those resources and exchange of know-how to add value to them should be given much more attention.
The extensive experience of Korea, both as a consumer and producer of maritime products, opens an avenue for mutually beneficial cooperation.
Mr Sinon was also a member of the ministerial panel discussing energy and infrastructure. Speaking about the deficit of energy in Africa, he told the delegates of the constraints to supplying power in an island state such as Seychelles.
They were also informed of the relatively new venture by the Seychelles Petroleum Company to transport oil, which is being successfully operated and opening up a new industry for our youth.
Korea, a net importer of all its hydrocarbons and the number one shipbuilding nation, showed its interest in this subject during the one-to-one business networking meetings.
Mr Sinon urged Korean investors to seriously consider renewable energy solutions for small island states such as Seychelles under the “green growth” initiative, and a number of Korean delegates are now exploring the possibilities of investing in Seychelles.
The conference presented ample opportunities for networking with high-level government officials and private sector entrepreneurs from firms such as Hyundai, as well as various fishing and fish processing companies.
The highlight of this networking was a dinner at the Blue House where South Korean President Lee Myung-bak hosted the ministers.
Mr Sinon followed up on a number of issues that President James Michel discussed with his counterpart during his official visit to South Korea last year.