Scoop has an Ethical Paywall
Licence needed for work use Learn More

World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Helping Africa Fully Join World Economy

Ban Calls For Greater Industrialization To Help Africa Fully Join World Economy

New York, Nov 20 2009 9:10AM Armed conflict, inadequate infrastructure, weak governance, limited financing and technological abilities, and policies that stifle entrepreneurship, limit competition and raise the cost of doing business are hindering the industrialization that Africa needs to fully join the global economy, Secretary-General Ban Ki-moon warned today.

"Efforts to address these challenges must be rooted in a shared global responsibility for our planet's prosperity," he said in a message marking Africa Industrialization Day, observed annually on 20 November and whose theme this year is 'Industrialization for integration.'

"We know what is needed, including a green agricultural revolution linked to industrial transformation. Indeed, there is great industrial potential in the emergence of a new, green economic paradigm," he added.

African leaders must provide a supportive regulatory and financ ial framework for such changes to gain strength, he noted.

Meanwhile, the international community must work with African Governments and institutions to do the research, make the investments and deploy the technologies for a climate-resilient, low-carbon growth path to feed Africa's growing population and raise living standards by building the industries of the future.

Mr. Ban cited encouraging economic growth on the continent in the past few years but stressed that increased industrialization is necessary if the transformation of African economies is to be sustained.

Advertisement - scroll to continue reading

"Industrialization will help Africa increase its share of global output and trade, and become more fully and meaningfully a part of the global economy," he said. "But integration itself will help Africa industrialize, since African economies need improved access to global markets if its industries are to be competitive.

"Greater integration of regional markets on the continent itself can also foster industrial deve lopment by making it easier to produce at economic scale."

ENDS

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
World Headlines

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.