Public Management

African countries must leverage their strengths to accelerate drive towards integration

Tuesday, 04 December 2018 14:02
African countries must leverage their strengths to accelerate drive towards integration

(AFRICAN DEVELOPMENT BANK) - Participants at the 13th African Economic Conference have called for African countries to leverage the full range of their strengths and resources to accelerate the region’s drive towards continental integration.

The 2018 AEC on the theme, “Regional and Continental Integration for Africa’s Development” is jointly organized by the United Nations Development Programme, the United Nations Economic Commission for Africa, and the African Development Bank. The conference  follows the launch of the African Continental Free Trade Area (AfCTA) 8 months ago in Kigali.

Speaking during the opening ceremony, Claudine Uwera, Rwanda’s Minister of State in charge of Economic Planning said: “Africa's integration is no longer a choice. It's a must for the continent and its people. To become the global player that it deserves to be, Africa should integrate speedily.”

Experts agree that a self-reliant approach that emphasizes intra-African trade, would not only help deepen regional economic integration, but contribute significantly to sustainable economic growth, job creation, poverty reduction, and inflow of foreign direct investment.

The African Continental Free Trade Area treaty signed in March 2018 by 44 countries is seen as the most ambitious effort to form what has the potential to be the world’s biggest free trade agreement which aims to create a single continental market of goods and services, with free movement of business persons and investments across Africa.

Estimates are that if Africa were to increase its share of global trade from 2% to 3%, the one percentage point increase would result in an annual additional income of about US$70 billion.

Ahunna Eziakonwa (photo), UNDP Regional Director for Africa observed: “African countries need to collaborate more effectively in devising public policies that can create skills, foster innovation and technological advancement, facilitate labour mobility and access to productive assets including land and finance.” 

Speaking on the urgency of ratifying the AfCFTA, Giovanie Biha, ECA Deputy Executive Secretary said: “It’s time to ratify AfCFTA, the more ambitious the liberalization, the higher will be the gains in terms of increase in GDP and exports.

The need for African economies to adopt innovative approaches to finance integration and especially infrastructure development also emphasised.

Gabriel Negatu, Director General of African Development Bank stated: “We are committed to continue supporting Africa's integration agenda for it will lead to sustained growth and allow the continent to withstand external pressures; enable African companies to grow and become global giants.”

AEC 2018 debates are focusing on four main themes: Conceptual underpinning of Africa’s integration; Infrastructure and institution for Africa’s integration; Leveraging private sector for Africa’s integration; Partnerships for effective integration that address impediments to Africa’s regional and continental integration.

The high points of the conference include the launch of three significant reports: the 2018 Visa Openness Index; the 2018 Africa Sustainable Development Report; and the African Governance Report on Tuesday 4 December 2018. 

For more information on the 2018 African Economic Conference, please visit aec2018.org

 

Logo BAD

Additional Info

  • communiques: Non
  • couleur: N/A
 
Finance


 
Telecom


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.