African Union Urges Integration of Economies Continentwide to Compete Internationally

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african union summitThe chairwoman of the African Union Commission, Nkosazana Dlamini – Zuma, Thursday considered the integration and economic unit the only way Africa can face their competitive disadvantage at the international market.

The AU Commission chairperson was speaking at the opening ceremony of the 22nd Summit of Heads of State and Government of the African Union, which began Thursday in Addis Ababa, Ethiopia.

Dlamini – Zuma said that if Africa were a single country, in 2006 the continent would rank the world’s 10th largest economy.

The official decried the fact that the countries act alone with virtually with all the world’s resources (land,oceans , minerals, energy) and more than one billion inhabitants.

In her view, the 55 countries should cooperate, to avoid fragmentation.

The countries with greater roles, which should lead African integration, have failed to so. This is part of the reason that cause of much delay to achieve development, she said.

She also said that the accelerated implementation of the Abuja Treaty and the creation of the African Economic Community by 2034 will ensure the economic integration to achieve unexpected levels.

The official said that economic integration, coupled with the development of infrastructure, will allow the flowering of intra-African Trade that grew less than 12 percent in 2013 to approach 50 percent by 2045.

Dlamini – Zuma said the growth of the exchange of goods and commercial giants on the continent is another factor that consolidates integration.

 

Source: allafrica.com

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