SPEAKER of the National Assembly Jacob Mudenda says Parliaments play a crucial role in enacting laws that foster peace and good governance to promote economic development.
He said this yesterday during at the Indonesia African Parliament Forum held in Bali under the theme Forging Indonesia-African Parliamentary Partnership for Development.
“Parliaments the world over have the sacrosanct responsibility to enact laws for peace, order and good governance as the condition precedent to sustainable economic development,” he said.
“No development can be obtained in a lawless environment.
“It is, therefore, imperative that this forum should leverage on the palpable need for Indonesia and Africa to enact synergised laws that promote ease of doing business between Indonesia and Africa.”
He said the monetary and fiscal policies of the two regions should be synchronised to enhance speedy investment and trade between Indonesia and Africa.
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“It is cardinal that Indonesia and Africa establish a joint corporate entity to superintend these efforts,” he said.
“Both regions must craft harmonised investment and trade laws which establish one-stop investment centres such as the Indonesia Investment Co-ordinating Board, the Zimbabwe Investment Development Agency or the Rwanda Investment Board.”
He added: “Equally, synergised trade laws between Indonesia and Africa must guarantee ameliorated trade tariff barriers, trade payment systems and the convertibility of currencies between Indonesia and Africa.”