§ 11. Mr. Brocklebank-Fowlerasked the Lord Privy Seal how many investment protection agreements have been concluded with countries in Africa.
§ Mr. HurdFour such agreements have been signed with countries in Africa. Of these agreements, two—with Egypt and Lesotho—are in force and two—with Senegal and Sierra Leone—await ratification and/or the completion of constitutional procedures.
§ Mr. Brocklebank-FowlerIn thanking the right hon. Gentleman for his reply, may I ask him whether he accepts the importance of private investment to the development of economies in the Third world, especially in the light of his Government's decision to cut the aid programme? Will he assure the House that the Government will renew their efforts to conclude more investment protection agreements with developing countries, in order that private flows of capital may play a more constructive part in the development of those countries?
§ Mr. HurdThe hon. Gentleman asked about Africa, but world-wide we have signed 16 of these agreements 296 since 1976, and 10 of them have been signed since the Government came into office. We have now approached most countries in Africa about the possibility of concluding such agreements with them. I agree that they are very important.
§ Sir Peter EmeryHave any negotiations been carried on with Ghana? What is the present position concerning British investment in Ghana since the takeover of the Government by Mr. Rawlings?