Third Industrial Development Decade for Africa: enhanced and innovative global partnerships key to a successful African Continental Free Trade Area
The AfCFTA, launched by the AUC in March 2018 in Kigali, Rwanda, has enormous potential for catalyzing this structural transformation, as it will spur industrialization, economic diversification and employment in Africa. It will create a continental market of 1.2 billion consumers and an African GDP of US$2.5 trillion, and is expected to provide great business opportunities for trading enterprises, businesses and consumers. In her opening remarks, Amina J. Mohammed, Deputy Secretary-General of the United Nations, welcomed the launch of the AfCFTA and stressed that “sustainable industrialization is key to the success of the Free Trade Area, with an emphasis on inclusive development that harnesses the energy, drive, creativity and skills of women and youth.” Addressing the audience, LI Yong, the Director General of UNIDO, which is leading the implementation of the Third Industrial Development Decade for Africa (IDDAIII), said that, if the full benefits of the AfCFTA are to be fully realized, industrialization should be the central focus. He predicted that “the successful implementation of the AfCFTA will lead to an increase in demand for goods manufactured by small and medium-sized enterprises.” Vera Songwe, Executive Secretary of the UNECA, stressed, “if the AfCFTA is to catalyze Africa’s industrialization through integrated markets then bridging infrastructure gaps and digitalizing economies across the continent is critical!” The meeting concluded with the recognition that the successful implementation of the AfCTFA will require enhanced and concerted efforts to address several critical areas related to industrial development, and issued a call for strategic partnerships with financial institutions and the business sector in order to leverage additional resources for infrastructure, industry and innovation, as well as knowledge, expertise and technology.
| Format: | Press release biblioteca |
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| Language: | eng |
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2018-09
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| Online Access: | https://hdl.handle.net/10855/44877 |
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