By Sotunde Busayo
A recent analysis to be released in the forthcoming 2012 African economic report has revealed a more-than-average intra-African trade growth in recent years.
This economic development was revealed by U.N under secretary Abdoulie Janneh during the first African Trade Forum at the UN conference centre Kingali, Addis Ababa, Ethopia.
The forum which is taking place in a period when there is unanimity about Africa’s positive growth story is meant to provide an opportunity to build on the success stories in intra-African trade in spite of the various constraints.
With the theme ‘Accelerating Intra-Africa participation in global trade’, the forum observe the need for Africa to trade among themselves even though they need to increase their global trade agreement.
‘We now have a situation in which the very same sources that depicted Africa as a hopeless case 10 years ago are now acknowledging that it can be the next global growth place. For this to happen, however as we know from historical and contemporary evidence, trade has a major role to play in this regard. It has to be at the heart of our development strategies,’ he said.
Mr Janneh urged Africans to exploit and utilize the benefit of regional value chains starting with the important agro-processing sector.
In lieu of this, A.U general assembly will be focusing on areas that can boost intra-African trade.