THE COUNCIL ON FOREIGN RELATIONS
IN NEW YORK
Mr. Chairman, Distinguished Members of the
Board of Directors, Ladies and Gentlemen:
We
should like to begin our remarks to this distinguished gathering of eminent
leaders of American business and industry by expressing our deep appreciation
to all the officers and members of the Board of Directors of the
African-American Chamber of Commerce for their kind hospitality and the
opportunity afforded us to meet with you all and to share with you our thoughts
and preoccupations concerning matters which are no less important to the
well-being of peoples everywhere than are the peace and tranquillity which we
all endeavour to promote for all nations great or small.
International peace and security are
primary requisites for the economic development and social progress of the
world today; however, the converse is no less true – that the economic
well-being of peoples advances the cause of international peace, and the key to
economic prosperity lies in the free flow and exchange of commerce and capital
among nations. In the unhampered flow of capital between countries lies the
solution to the problems generated by the widening gap between the economically
advanced and the developing nations of today.
It is, therefore, with appreciation that
we note that the African-American Chamber of Commerce is dedicated “to foster
United States trade with, and promote United States industry and investment in
Africa.” So long as far-sighted people like yourselves, in each nation and
community, recognize the essential interdependence of all peoples in the
economic field, as indeed in other areas of human endeavour; and so long as
they realize that there are enormous mutual benefits to be derived from co-operative
economic efforts, there is reason to hope that the world economic situation
will improve and undoubtedly at a greater pace than ever before.
For some time now, and despite earnest efforts on the part of the United
Nations Organization and certain countries, the world economic situation has
not been as encouraging as it ought to be.
On the one hand, a small group of
economically and industrially advanced countries, notably your great nation,
have achieved prosperity unparalleled in the history of mankind, enabling their
respective peoples to maintain a high standard of living.
On the other hand, by far the vast
majority of the nations of today remain economically underdeveloped, their
peoples subsisting in want and poverty as their normal conditions of life. In
an enlightened age such as ours in which the benefits of scientific and
technological advancement are being brought to bear in almost every sphere of
human life, this profound gap gives rise to anxiety and concern. It is a
situation that engenders misery, bitterness and hostility. It is a situation
that cannot and must not be allowed to continue longer. In an era when nations
gather in concert to declare each nation’s fundamental rights to freedom and
equality, it is dismaying that the great majority of the world’s population
exists in the shadow of poverty and misery, often lacking the basic essentials
of food and clothing, while their fellow men in other parts of the globe enjoy
a life of abundance, comfort and tranquillity. No greater victory can be won by
the nations of today than the conquest of the apocalyptic enemies that still
ride mankind – poverty, disease and ignorance.
Two-Pronged
A two-pronged action on a global basis
appears to provide a realistic approach to the urgent problems posed by the
acute disparity in the world economic situation.
On
the one hand, the economically developed nations have a responsibility, to
others as much as to their own interests, to make available to less developed
countries their vast capital and technological resources in ventures which will
yield maximum results within the shortest time possible. On the other hand, it
is equally important that the developing nations, for their part, should find
ways and means of attracting foreign capital as well as technical skill, both
public and private, in order to accelerate their economic development.
We in Ethiopia, for our part, are doing
our utmost to achieve progress in both these areas. While our Five-Year
Economic Development Plans have laid stress on primary industries, as well as
essential hydro-electric power, irrigation systems and a network of highways,
among others, the entire nation is now engaged in self-help endeavours which
are yielding satisfactory results and contributing to the nation’s efforts
toward economic advancement and social progress. Within the purview of sound
fiscal policies and other national commitments, we are now engaged in employing
every available resource in the national task of economic development.
On the other hand, we have been seeking
foreign capital to narrow the gap between available resources and full economic
development. While we are appreciative of the assistance of international
organizations and agencies as well as a number of friendly governments, we
would at the same time like to refer to steps taken by the nation to attract
and encourage private foreign capital.
In addition to giving full assurance of
utmost co-operation to prospective foreign private investors, the government
has enacted a most liberal legislation, which has been in effect for several
years now, to encourage private capital. This decree guarantees the rights of
potential investors from arbitrary public expropriation, and provides
protective concessions for all those who wish to participate in our country’s
development programmes.
It
is a fact that Ethiopia is fortunately endowed with vast untapped natural
resources, and what we in Ethiopia seek is the utilization and exploitation of
these resources for the benefit of both the investor and the nation. That a mutually
beneficial and happy partnership between foreign private enterprise and
government exists in Ethiopia is clearly attested to by the growing number of
foreign firms which have profitably established themselves in various
businesses, while at the same time assisting in the development of the nation’s
economic infrastructure. Nonetheless, Ethiopia desires more private capital
investment. Organizations such as yours can do much to fill this need, while
providing benefits for the investors.
Impediments
It is a truism that self-help, hard work and
initiative are requisites for any nation’s economic and social advancement. Yet
it is equally true that there still are outmoded international arrangements
which seriously limit the efforts of developing countries to develop their
potential. So long as there remain impediments to the free flow of
international trade; so long as there is no guaranteed price of primary goods
at remunerative level without discrimination, the economic and social
development of the developing nations will remain seriously handicapped. It is
in this connection that the economically advanced nations can render valuable
contribution. Such nations could, as an instance, extend further bilateral or
multilateral assistance and waive obstructing arrangements such as preferential
tariffs as well as other protective systems which, in the long run, prove a
disservice to the economic and social progress of developing nations.
The
establishment of the UNCTAD and the declaration of the United Nations
Development Decade, in addition to other economic programmes launched under the
auspices of the United Nations Organization, have provided the basis for a
solution of the urgent problems of the world economic situation. Yet, since the
recommendations of the UNCTAD and its organs have not so far been implemented,
the prospects for a speedy solution to these problems have not appeared
particularly promising. It is here that the economically advanced countries can
make maximum contribution and thereby help to usher in a great new age, an era
of “economic liberalism.”
The perpetuation of the status quo will
not, in the long run, serve even the narrow interests of the few, and it will
inevitably prove disastrous to the world economic situation. It is, therefore,
to be ardently hoped that the governments of the economically advanced
countries will rise to this challenge and join in a concerted effort to
alleviate the world’s economic ills which are but the root and cause of many
other international problems.
As I have remarked earlier, private organizations
such as the African-American Chamber of Commerce can do much to help solve
present world economic problems by promoting the free flow of private capital.
And it is in this respect that we would like to wish all success to the endeavours
of this organization which stands to help promote the ideals of international
peace and co-operation.
We thank you again, Mr. Chairman, for your
hospitality and the opportunity afforded Us on this occasion to share these
thoughts with you.
Feb. 17, 1967.
Selected
Speeches of His Imperial Majesty Haile Selassie – page 154 –
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