President of Republic Participates in AU Extraordinary Summit on Industrialization, AfCFTA

On 25 November, in Niamey, His Excellency Mr. Mohamed Ould Cheikh El Ghazouani, the President of the Republic, took part in the African Union (AU) Extraordinary Summit on industrialization and at the extraordinary session of the African Free Trade Area under the theme: “Industrializing Africa: renewed commitment towards Inclusive and Sustainable Industrialization and Economic Diversification”.
The summit allows African leaders to discuss ways to cooperate in the economic and industrial fields, the creation of employment opportunities, and the deployment of all efforts to ensure industrialization, which constitutes one of the pillars of the development of Africa and the sustainable development goals included in the Continent’s development agenda 2063.

The meeting will discuss topics related to industrialization and AfCFTA and the realization of interdependencies, industrialization, government fiscal capacity, job creation, technological innovations, organizational capacity to improve industrial performance and make more competitive, partnerships, and alliances to achieve the industrialization of Africa.
It will also discuss others relating to youth and women-led SMEs in the success of industrialization in Africa or resource governance and mobilization of financial and non-financial resources for the industrialization of Africa.
The preparatory meeting for the Summit held by the ministers defined the respect by African States of the 2063 agenda and the 2030 plan for the sustainable development goals offering Africa a unique opportunity to implement a coherent development process and capable of enhancing and sustaining the economic development of the continent through sustainable industrialization.
In his opening speech, Mr. Paul Kagame, the President of the Republic of Rwanda, Chairman of the Summit on behalf of the President of Senegal, the President in Office of the African Union, explained that the pace of industrialization on the continent is very slow to achieve the agenda set, underlining the need to create an effective partnership between the public and private sectors to improve the performance of this vital and important sector in any economic development in any country. He stressed the need to strengthen cooperation and partnership in the areas of industrialization and trade between the different countries of the continent.
For his part, Mr. Mohamed Bazoum, the President of the Republic of Niger, expressed his pleasure to welcome the leaders of the African continent to discuss the reality of the industrialization of Africa and strengthening the trading area. He indicated that this summit demonstrates the determination of the continent’s leaders to promote industrialization and activate its role in the national economies of AU member countries.
He highlighted the close link between industrialization and trade activation, stressing the importance of setting targets in these areas and mobilizing the appropriate capacities for their implementation.
Earlier, Mr. Moussa Faki Mahamat, the Chairperson of the African Union Commission, had indicated that the industrial policy that was developed on the continent decades ago has not been able to achieve the desired objectives, highlighting the low contribution of the industrial sector at the continental level to the GDP, which requires that the African Union and all the bodies of the continent contribute to activate this vital sector in any economic development.