Ethiopia PM tasks Africa on economic integration, cooperation
Integration
By Kamal Tayo Oropo
Addis Ababa, May 14, 2018 (NAN) The 51st Economic Commission for Africa and Conference of African Ministers of Finance commenced on Monday in Addis Ababa, Ethiopia, with a call for improved economic integration and cooperation among African Union (AU) member-states.
Ethiopia Prime Minister, Abiy Ahmed, who made the call, also lauded the African Continental Free Trade Area (AfCFTA), disclosing that Ethiopia would soon join the four countries who had ratified the agreement.
“The AfCFTA Agreement should be shaped and implemented so as to enable Africa to create opportunities for its citizens.
“To spur our industrialisation agenda and ensure inclusive development for all Africans; particularly women and youth.
“Together, we will grow. Together we will give our young people a stake in the future of our continent. We will harness their energy and creativity for collective wellbeing.
“Ethiopia is fully aware of the opportunities the AfCFTA agreement offers. I wish to urge all of you (other African countries) to do so to ensure that it can come into force sooner,” he said.
Prime Minister of Niger Republic, Issoufou Mahamadu, who spoke from Niamey through a live webcast, also reiterated the need for the African continent to work more in harmony.
He explained that his country was among the first to ratify the AfCFTA agreement because of its overriding mandate of a common destiny for Africa.
The AUC chairperson commended the 50 African countries that have signed the AfCFTA agreement, saying the continent’s ability to trade with itself cannot be over-stressed.
According to Mahamat, to do that successfully, Africa must add value to its resources, which included educating African children and making sure they stay in school.
“We have to increase our capacity to improve production. In this regard, we all know science and technology is central.
“The shape of Africa’s map looks like a question mark, but we have to provide answer to the question mark,” he said.
The News Agency of Nigeria reports that the 2018 edition is themed: ‘Private sector and the implementation of the African Continental Free Trade Area.’
Bankole Adeoye, Nigerian Ambassador and Permanent Representative to the AU and ECA, stressed the need to engage the private sector in discussing good governance in Africa.
He made the remark on Sunday during one of the side events organised to launch the fifth African Governance Report.
“There is need for a smart and strategic partnership. Such partnership must never exclude the private sector in the continent.
“This is why Nigeria encourages participation of Dangote group, and other private entities in the development of our country.
“This is the way to go. Many of our indigenous private sector companies can do most of what the multinationals do,” he said.
According to him, good governance is not only about democracy, but also about institutions; especially institutions of governance. He said there was need for countries to dwell on institutional cohesiveness and development.
“The African landscape is changing. There is so much emphasis on politics and the sectors that will deliver the dividends of democracy. But there is need to see good governance in totality.
“There is an illusion that Africa is natural resources. There is no country that is resource rich. We are endowed, yes, but not rich.
“Our resources are a blessing and a favour, but until we make the resources work for us, we cannot be rich,” he said.
Abdallah Hamdok, Deputy Executive secretary of ECA, took a swipe at the multinational corporations operating in Africa.
Hamdok alleged that the multinationals were responsible for over 65 per cent of illicit financial flow out of the continent.
“The over 100 billion dollars Africa loses to illicit financial flow is more than twice the amount of total aids that come to the continent,” he said.
NAN reports that the ECA launched a new generation of reports focusing on the progress of African countries on structural transformation.
The ECA envisages that the reports will be a reference for African policy makers and other stakeholders with more focus on structural transformation on the continent at country level. (NAN)
KTO/SA
Edited by Salif Atojoko
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