From Kwaku Osei Bonsu, GNA Special Correspondent, Yokohama, Japan

Yokohama, (Japan), May 30, GNA - President John Agyekum Kufuor has urged the world's economic powers to provide the necessary leadership to

end the turmoil on the global economic and financial market. The poor of the world, he said, expected the rich to conscientiously find a quick solution to the destabilisation of the market, especially of crude oil and food, threatening to wipe out the modest improvement of the circumstances of developing nations, most of them in Africa. It should not be beyond the leading industrialized countries, the Group of Eight (G8), to invite emerging economic powers of China, India and OPEC to strategise to calm the market in the interest of humanity. President Kufuor was addressing the closing session of the Fourth Tokyo International Conference on African Development (TICAD IV) in the Japanese Port City of Yokohama on Friday. Thirty-Five (35) African Heads of State joined the Prime Minister and Government of Japan, heads of multilateral and regional organisations, the private sector, academic institutions and civil society groups at the three-day gathering to discuss concrete plans to drive Africa's economic growth and reduce poverty among its peoples. President Kufuor said Africa and the developing countries again expected global concerted action led by the developed world through their assumption of responsibilities to mitigate the devastating effects of climate change.

This demands the deployment of scientific and technological mechanisms to help people to predict and adapt quickly against natural disasters. President Kufuor expressed appreciation for the support development partners were giving to Africa by way of increased financial resources but said, given the complexity of the Continent and the fact that its nations were at different stages of development, they needed to be treated differently in most instances.

Platforms and agencies like TICAD should therefore be used by development partners to establish permanent monitoring and evaluation systems that would promote timely and more effective targeting of Overseas Development Assistance (ODA) and grants where and when they were needed most among the recipient countries.

He applauded Japan for the concern and commitment towards the progress of Africa, citing the Asian nation's recent announcement that it was doubling its ODA and pledge of 4 billion dollars in soft loans to help improve transportation infrastructure on the continent. In addition, it was also encouraging trade and Japanese private investment, offered to train 100,000 health workers as well as provide support to Africa's Green Revolution by assisting to increase its current rice production of 14 million tonnes by 100 per cent within the next 10 years.

These, he said, undoubtedly would complement Africa's efforts at economic development and its achievement of the Millennium Development Goals (MDGs).

The Conference ended with the adoption of the Yokohama Declaration a Plan of Action and Follow-up Mechanism to ensure effective implementation of decisions reached.

Boosting economic growth, ensuring human security through the achievement of the MDGs, the consolidation of peace and good governance and addressing environmental and climate change formed the main pillars of the Declaration.

The Declaration took note of Africa's insignificant share of global trade and investment inflows and recognized the need to work together for early, fair and balanced conclusion of the World Trade Organisation (WTO) Doha Round.

Additionally, it acknowledged the importance of "Aid for Trade Initiative", the fundamental need to focus on development of region-wide infrastructure, the urgent need to accelerate industrial development, support for rural entrepreneurs and local industries and the critical need to enhance the current levels of agricultural productivity.