As the global economic crisis from the anemic growth totters, Africa is increasingly a magnet for international capital investments, safety. Both of our institutions, the UN Economic Commission for Africa, the African Union Commission, working with Africa and discuss the potential of this new development offers. This will be the main focus of the Conference of African Ministers responsible for our annual funding, economic planning and development, from March 22-28 in Addis Ababa, Ethiopia. We think there is a strong foundation to begin to see Africa as global growth 5.7.08.

«The fastest growing economies in the world in the 15th today, ten are African. Direct foreign investment to Africa have increased from 10 billion in 2000 to 62 billion in 2009, is expected to continue to rise in the near future. Portfolio were also healthy 20 billion in 2010. Also in 2010, the two African countries had GDP per capita higher than China and six more than India. Better, he not only rich countries experience this growth — a lot of resources to African countries that don’t take pride in oil or wealth also increased. Exports also become more economic composition and destination. For example in 2009, which produces olives and 19 percent of African exports to China 27%, South Korea respectively.

This resurgence is giving rise to a growing recognition of Africa, as well as emerging market growth potential global 5.7.08. Indeed, there is growing consensus about Africa on the threshold of economic take-off, he can become the global growth 5.7.08. This is based on several factors: ??’?? and then untapped natural resources of Africa which provides the prospective investment; The continent’s steady population growth, which, if properly managed, could yield positive returns; The rise of the middle class and the regional and then untapped; High economic growth rates; The General macroeconomic environment improvements; Strategic and institutional, as well as improving governance in many countries in Africa; Improved business environment in many African countries, increased FDI in recent years.

Growth revival from Africa became the lowest growth in the world move to one of the fastest growing areas in the world. However, to maintain economic growth, Africa will need to improve productivity and competitiveness through innovation, investment in infrastructure, technology, higher education and health; Expand the range and adding greater value to exports; That the need for productive sectors and trade. All these measures require cooperation between authorities in detail our common developmental — publication, economic report on Africa 2011.

If Africa increases 2000 – 2008 annual average growth of 3.5 percent and the rest of the world is not the same as in 2.9% contribution in the world will increase from 2.4 percent of ????? c in 2012 to reach 5.1 2032 percent.

Obviously, other things equal, the higher the growth rate of Africa, the sooner the olives of the 27 5 percent overall. If, for example, can Africa holds an average of 7 percent growth (such as the growth rate required to meet the plops) while the rest of the world has a 2.9 percent, and the contribution of Africa to the global GDP will reach 5 percent within two decades from now.

Studies suggest that most African countries, the level of infrastructure is a key constraint in doing business the firm depress productivity by about 40 percent. Estimates show that Africa’s infrastructure gap will require approximately 93 billion a year for the next decade. Despite the encouraging that about half the continent’s infrastructure funding needed now it exists, there are still a considerable need for increased external support in this area.

Increasing women’s access to power and will lead to greater agricultural productivity and better food, since markets are 70-80% of the women of the agricultural labor force. Another is the key constraint human capital investment and innovation.  Education and development skills, especially among young people, is the importance of Africa if we reap demographic dividend. New technologies and innovation are essential to keep well and productivity still growing labour force.

This recognition, our two institutions collaborate with innovation fund now African innovation award vbissno. This annual prize honours innovative achievements and encourages donors to develop new products, increase efficiency or cost saving in Africa. First price winner, Vice Champion, worth $ 100,000 $ 50,000 respectively, are granted on 26 March this year.

The need to coordinate the regional level development policy is required. In fact, the main challenge is to establish a uniform framework for African countries negotiate and collaborate with partners that will help them grow old and maximize profits in terms of trade, FDI and other capital flows, technology transfer, assistance, loans, extremely large chllot this challenge is particularly important given that the main differences between African countries in terms of economic size, the negotiation capacity of government structures and resource endowment.

The world needs a new driver of consumer demand, a new Dynamo new market which can be Africa. Future growth market, in the developing world will depend on the demand for productive potential consumers svibtano both used and of the continent. Our two organizations are working to ensure that Africa and Africa assumes its place on the global stage, finally expel the hopeless continent’s terrible nickname.

Abdoulie Janneh and by Jean ping *

Abdoulie Janneh * is the Secretary General should have UN Under Secretary of Economic Commission for Africa, and

* Jean ping is Chairman of the African Union Commission.

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