The ten - nation cocoa producing alliance met in the Ghanaian capital, Accra, on Tuesday (26 February).
CU INTERIOR Dr. John Nabila, Minister of Presidential Affairs and Information for Ghana speaking in English at the Cocoa Producers' Alliance conference
SVs Speech continues, seated are delegates from Ghana, Gabon Togo, Sierra Leone, Mexico, ivory Coast, Nigeria, Trinidad and Tobago, Cameroun and Brazil (9 shots)
NABILA: "This 34th session of your general meeting here has a special significance for the present government which has realised only too clearly the unique role of cocoa in our economy and in the welfare of millions of Ghanaians whose lives, directly or indirectly, depend on that industry. Mr. Chairman, from the wider perspective the 34th session of your general meeting is being held against the background of mounting tensions, uncertainties and severe imbalances in both national and international economic regimes. The foresight and vision which inspired the alliance of us, has been completely vindicated by the evolution of events, and the serious balance of payments constraints which confront our development efforts. It is therefore imperative for the alliance to continue relentlessly to strive for improvements in the foreign exchange earnings which can accrue from the cocoa industry."
Script is copyright Reuters Limited. All rights reserved
Background: The ten - nation cocoa producing alliance met in the Ghanaian capital, Accra, on Tuesday (26 February). The meeting is aimed at harmonising pricing policy before next month's talks (March) in London with consumers representatives. The current international cocoa agreement expires at the end of March. The alliance, which produces 90 per cent of the world's cocoa, wants to raise the price of cocoa to 120 cents per pound. (0.6 pounds sterling). Dr. john Nabila, the Ghanaian Minister of Presidential Affairs and Information, told the alliance to strengthen its resolve to sustain a realistic price for cocoa.