First, I would like to take this opportunity to confirm again our commitment to strengthen trade and economic cooperation between SADC member countries. Madagascar has created its international economic cooperation basis: our country is a member of the World Trade Organisation (WTO), of the Southern African Development Community (SADC), of the Common Market for the Eastern and Southern Africa (COMESA), the Cotonou Agreement, the African Union and the New Partnership for Africa’s Development (NEPAD). Madagascar also benefits from the Africa Growth and Opportunity Act (AGOA). Bilateral Investment Treaties and Trade exist with several countries for the promotion and protection of investments of the investor and trade.

Besides, we believe that regional integration with SADC constitutes an effective and successful instrument of economic cooperation aiming at struggling against poverty. It is a great opportunity for the private sector to seize. Indeed, integrating SADC allows experience sharing of knowledge and technology transfer. In addition, it supports the flow of capital and the circulation of goods and services.

The macro-economic stability and the implementation of the Economic Development Board of Madagascar (EDBM), an efficient tool aimed at promoting and attracting investment, has led namely into an economic growth rate of 5 percent and establishment of about 900 companies each year.

To accelerate its development process and to make a quantum leap, Madagascar has elaborated the Madagascar Action Plan (MAP). It is a bold, five-year plan that defines the roadmap and the national priorities from 2007 to 2012.

In order to reach an economy with a strong growth rate between 7 percent and 10 percent in the year 2012, the Malagasy Government has already made efforts by the creation of a favourable climate for doing business. It has also provided better conditions to improve the business environment for a strong and dynamic private sector that will succeed in national, regional and international trade and investment.

Madagascar is confident that the implementation of the Regional Indicative Strategy Development Programme would lead to a better development of the SADC region that would become prosperous and an example for the African continent.

H.E. RANDRIARIMANANA
Minister of Economy, Planning, Private Sector and Trade