Statement by Mr. Carlos Lopes at the opening of the Conference Ministers: seventh joint annual meetings of the ECA Conference of African Ministers of finance, planning and economic development and AU conference of ministers of economy and finance

This Statement delivered by Mr. Carlos Lopes at the opening of the Conference Ministers. Mr. Lopes, on his remarks highlighted that, In order for Africa to grow and transform we need to have a clear understanding of our times. We are not new in the business of transformation. But Africa has, nevertheless, to innovate in the business of transformation. The industrialization models of import substitution, used in Latin America, or the Southeast Asia export driven model, are no longer an option for Africa. Particularly the latter was based on the premise of mass production with cheap labor and great absorptive capacity and significant resource savings. The international trading system is struggling with the notion of Special but Differential Treatment the same way as climate change negotiations are with Common but differentiated responsibilities. Key drivers for the continents transformation are due to formidable growth; improved economic governance; an export boom and rising commodity prices. A growing class of new consumers have brought about a rise in domestic demand spurring increased public spending and private investment.

Bibliographic Details

Format:	Speech biblioteca
Language:	eng
Published:	2014-03
Online Access:	https://hdl.handle.net/10855/31014
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