First, you may recall that the World Food Summit's goal of halving the number of hungry by 2015 was considered by some to be too modest. Yet it is already evident that reaching this goal will require a significant acceleration of present rates of progress in reducing undernourishment. Indeed, the incidence of economic or political crises in many developing countries, combined with mediocre rates of both per caput food production and overall economic growth, suggest that developments since the Summit may have led to a further increase, rather than a decline, in the numbers of undernourished. In the countries where the problem is most severe, the population is predominantly rural and agriculture provides, directly or indirectly, most of the employment and a high proportion of their economic output and export earnings. Increases in agricultural output and productivity, especially by small farmers, are essential to ensure both availability of and access to food.
Overcoming hunger is one of the keys to breaking out of the poverty trap.
And as concluded in a recent report sponsored by Future Harvest, and generated by the International Peace Research Institute, it is hunger which is causing so many of the conflicts we see in the developing world today. Thriving agriculture is the engine that fuels broader economic growth, thus paving the way for prosperity and peace. Mr President, Investment in agriculture in the developing countries is a pre-requisite for attaining these objectives. As in the past, the investment required in developing countries will be generated mainiy from domestic sources, private and public. Available data indicate that the current actual level of investment is significantly below the requirement.