A meeting aimed at finalizing a policy to drive industrialization in Africa’s largest trading bloc opened here Monday with a call for member states to cooperate in coming up with an industrialization strategy.?

African Market
African Market

The meeting, comprising of industrialization experts from the Common Market for Eastern and Southern Africa (COMESA) regional bloc, has been called to finalize a common industrial policy for member states.? Kipyego Cheluget, the regional bloc’s assistant secretary- general said at the start of the meeting that the industrial policy was of paramount importance hence the need for member states to cooperate in order to build a diversified, innovative and globally competitive industrial base.? The experts have gathered with the aim of finalizing the industrial policy in line with the theme of the bloc’s 18th 2015 Summit scheduled for Addis Ababa, the Ethiopian capital to take place on March 30 and 31.? Meanwhile, the Zambian government said member states will only be able to transform their economies through industrialization.? Ministry of Commerce, Trade and Industrial Siakalenge Siazongo said during the same occasion industrialization will provide for a structural transformation, sustainable growth and creation of jobs for people in the region and beyond.? The growth of many economies in the region have been spurred by production and trading in primary products, a situation that has been undermining economic transformation and diversification due to vulnerabilities in the international market, he added.?? With 19 members and a population of 465 million as well as a combined Gross Domestic Product (GDP) of 485 billion dollars, COMESA is Africa’s largest trading bloc.? Enditem

 

Source:?Xinhua

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.