Assembly/AU/ 7 (X)I Page 9 supply response is not just a matter of the farm-level expansion of production, but must comprise the whole food value chain, with private sector actors in the food-processing and retail industries playing key roles. These investments would have high returns not only in terms of agricultural growth, but also in terms of poverty reduction in both rural and urban areas through increased production and employment and lower food prices. 8. Complete the WTO Doha Round. The completion of the WTO Doha Round is even more relevant in times of high food prices in order to strengthen rulebased trade. A world short in supply and facing regional and country-specific fluctuations needs more options to trade, not less. It should be easier for countries to agree to lower agricultural tariffs when market prices, especially for sensitive commodities, are high. With high global food prices, there may be no need to provide large domestic support or export subsidies to farmers in developed countries. The EU has already eliminated its applied tariffs on cereals, but it has not yet decreased its bound tariffs, which means that there is no certainty about these levels in the long term. Similarly, U.S. farmers are holding tight to low loan rates and countercyclical payment programs despite the fact that they are projected to benefit little from them in the coming years. Policymakers in developed countries want to keep their options open in case prices fall. The current food situation should be viewed, however, as an opportunity to introduce major changes in the agriculture negotiations pertaining to market access, domestic support and export subsidies. If these opportunities are realized, they would lead to more fair and open trade, more efficient resource use and higher welfare for people in developing countries. They would also have a stabilizing effect on agricultural prices and help prevent future crises. IV. RECENT PERFORMANCE OF AFRICAN AGRICULTURE (a) CAADP as a Collective Agenda for Agricultural Growth, Poverty Reduction and Food and Nutrition Security 17. The Comprehensive Africa Agriculture Development Programme (CAADP) and the Sirte Declaration on Agriculture and Water are at the heart of efforts by African governments under the AU/NEPAD initiative to accelerate growth and eliminate poverty and hunger among African countries. The main goal of CAADP is to help African countries reach a higher path of economic growth through agricultural-led development which eliminates hunger, reduces poverty and food insecurity, and enables expansion of exports. As a program of the African Union, it emanates from and is fully owned and led by African governments. Although continental in scope, it is an integral part of national efforts to promote agricultural sector growth and economic development. It is not a set of supranational programs to be implemented by individual countries. It is rather a common framework, reflected in a set of key principles and targets that have been defined and set by the Heads of State and Government, in order to: (i) guide country strategies and investment programs, (ii) allow regional peer learning and review, and (iii) facilitate greater alignment and harmonization of development efforts.