Mon, August 20, 2012
KAMPALA, Aug. 20 (Xinhua) -- Ugandan President Yoweri Museveni has called for a U.S.-Africa summit to devise means of exploring Africa's increasing consumption rate visa vis the decline in Western economies.
A State House statement issued here on Monday said that Museveni who was meeting visiting U.S. Congressman Senator Tim Walberg from the State of Michigan said that the United States should note that the consumption rate in Western economies is going down while the opposite scenario is obtaining in Africa as the continent's rate of consumption intensifies and expands.
He said Africa has got surplus capacity that needs to be converted into products to supply the world market.
He said the African Union Commission President could work with the United States to organize the Summit so that America and Africa can discuss issues pertaining to market stimulation and consumption as well as boosting entrepreneurship aspects.
"Whoever becomes the President of the United States of America, should organize the U.S.-Africa Summit like America has done with India, China, Europe, among others. It is only the U.S.-Africa Summit that has not been there," he said.
Senator Tim Walberg said the U.S.-Africa summit would be crucial in the promotion of trade for mutual benefit of both blocs.
