studies with detailed engineering and economic feasibility work of the type normally supplied in other parts of the world by industrial oon-sulting organizations. The African Development Bank is in the process
of establishing, with the aid of the United Nations Special Fund, a pre-investment unit which will help the African countries in producing fully documented bankable projects„ The work of the ECA and the United
Nations Industrial Development Organisation should result in the preliminary selection of those industrial projects to which the resources of the African Development Bank can be applied to the greatest advantagee
The work of the proposed investment promotion centres should ensure that
the projects thus studied will eventually be implemented.
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The World Bank has also been seeking opportunities to help African countries to bridge this gap "between pre-investment studies and fully documented projects which can only "be filled by expensive technical consultancy work. It would be hoped that the World Bank would pool its resources with the African Development Bank in making available such services on the spot in the various sub-regions for the benefit of governments and private businesses seeking to establish industrial enterprises.
U- Industrial Development Council
Up to now I have been discussing what Africans and the United Nations institutions can do to implement the propositions discussed at
this Conference. Now I would like to turn to what I believe the more industrialized countries can do. When we look at the industrialized countries from Africa, we are always struck by the wealth of informa tion and the high level of support available to decision-takers. Africa must tap that information and be in a position to call on the expert
services available in the developed countries. I would therefore suggest the creation of an advisory body, which I shall call a consul tative council, or industrial development council.
What I have in mind is inviting representative urbanizations through out the industrialized world to nominate one or more of their senior officials who could organize the provision of advice to these govern ments.
The types of organizations 1 have in mind are the African-American Chamber of Commerce, the Confederation of British Industries, the Afrika Verein, or any of the Committees for International Economic Co-operation within the Socialist countries, and the India-Africa Development Associa tion. Such organizations either include the major banks and financial institutions or have very close connexions with them* These latter, in turn, frequently retain on their staff men with the expertise I have in mind.
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I realize that there are a number of problems which will spring immediately to your mind. The first, of course, concerns the confi dential nature of some business negotiations and the possibility that competitive advantage would be lost. Let me stress that the influence of the consultative council need not be limited to the detailed techni cal examination of specific projects. In many instances we would hope to call on the advice of the consultative council in preparing pre-feasibility studies. In their work, the consultative council could follow the tradition which has been created by the World. Bank group
and similar international institutions. I am sure that the industrialized world is experienced in handling such delicate issues and that its
members would be careful not to jeopardize good relations for the sake of marginal competitive advantage,, By improving the level of expertise available to the African countries through this arrangement, the interests of both Africa and the industrialized world would be well served. No one wants unprofitable projects to be pushed through due to ignorance?
no one wants to see projects so unfavourable to African countries that political problems immediately arise.
I would hope that, after the consultative council has been operat ing for a little while, say, a year or eighteen months, its members could meet,, perhaps under the auspices of the ECA, review progress and make suggestions for improving their contribution to African development.
III. Liaison Offices
It might be desirable to consider opening liaison offices in Europe, the USA and the Far East for facilitating contacts between the inifrividual promotion centres, the industrial development council and potential investors in these areas of the world. These liaison offices would be staffed and financed by the associations and organizations interested in and concerned with the industrial development efforts in
Africa and would report through the ECA secretariat to the industrial
council.
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The continent of Africa has its own interests and objectives. The industrialized world outside Africa has its own interests and priorities.
In some cases there may well be conflicts of interest between the cause of African development and the needs of investing agencies in the deve loped world. The purpose of the endeavour which we are initiating is to enable the parties involved in development in Africa to reconcile their.interests. It is not too difficult to realise that if the coun tries of Africa tackle their problems on a realistic and orderly basis they will be able to do not only more business with the rest of the
world, but will also make a more effective contribution to a new world
order and peace.
E/CN.14/3?2
Annex VIII
£NHEX VIII
CLOSIUG STAratSEFT OF MR. E.K.A. GARDI1TER,