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Heads of state and other officials from more than 20 African nations took part in the first Korea-Africa Forum conference to discuss future economic cooperation and growth in Seoul on Wednesday.
Emerging Asian economies like Korea that rely heavily on foreign countries for natural resources are looking to Africa for solutions. The world's second-biggest continent, holding 1/10th of global oil deposits and vast mineral resources is eyeing Korea and other Asian countries for infrastructure and development support.
Burundi Communications Minister Karenga Ramadhani said, "Technology is one of such areas where Korea is a leader in the world with a very strong economy and very good economic lessons."
Zambia¡¯s Ambassador to Seoul Godfrey Simasiku said, ¡°In the great lengths of Africa we have a lot of mining resources. We have energy and water resources that can be exploited."
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President Roh Moo-hyun, Tanzanian President Jakaya Mrisho Kikwete and Ghana President John Agyekum Kufuor attend a banquet with the participants of the first Korea-Africa Forum at Cheong Wa Dae on Wednesday./Yonhap
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At the inaugural Forum, Korea announced it will triple official Development Assistance for African countries to US$100 million dollars a year by 2008.
Foreign Minister Ban Ki-moon said, ¡°Our first official Korea-Africa Forum has started out small in scale and slow in responding to the need for such a forum compared to those in other countries. As the saying goes, however, a good start is half the battle and I'm confident that substantial results can be achieved."
In the declaration, Seoul pledged to share its industrial and technological expertise with Africa, and promote sustainable growth by helping with public projects as well as in areas of public health and good governance.
The Korea-Africa Forum builds on Korea's Initiative for Africa Development, which President Roh Moo-hyun launched following his visit to Africa in March. The forum complements UN efforts to meet the Millennium Development Goals by 2015, which include halving the world's extreme poverty and combating the spread of HIV/Aids.
Seoul says it hopes to nurture the forum into a biennial summit of African leaders within the next 10 years, suggesting that the meeting will be more than just talking heads but a consultative body setting up concrete measures.
Arirang News
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