UNIDO: Africa is 21st century's growth continent

• Published date: 16 January 2023
• Publication title: Nigeria - The Nation

Africa is the growth continent of the 21st Century, offering opportunities, the Director-General, United Nations Industrial Development Organisation (UNIDO), Gerd Mller, has declared.

He made this known at the opening of the 17th African Union (AU) Extraordinary Session on 'Industrialisation, Economic Diversification and the African Continental Free Trade Area (AfCFTA)' in Niamey, Republic of Niger.

Mller remarked that with the Agenda 2063, the AU has defined its own path, adding that with the AfCFTA agreement, African leaders have undertaken a huge and promising initiative.

Agenda 2063 is Africa's blueprint and master plan for transforming into the global powerhouse of the future.

It is the continent's strategic framework aimed at delivering on its goal for inclusive and sustainable development and is a concrete manifestation of the pan-African drive for unity, self-determination, freedom, progress and collective prosperity.

The AfCFTA is one of the flagship projects of Agenda 2063. Founded in 2018, with trade commencing on January 1, 2021, AfCFTA is a high ambition trade agreement expected to create the largest free trade area in the world since the formation of the World Trade Organisation (WTO).

The pact connects 1.3 billion people across 55 countries with a combined Gross Domestic Product (GDP) valued at $3.4 trillion.

By eliminating barriers to trade in Africa, AfCFTA's objective was to significantly boost intra-Africa trade, particularly trade in value-added production and trade across all sectors of Africa's economy.

Mller, however, reminded that Africa needs investments in sustainable industrialisation which translates to investments in energy, infrastructure, digitalization, and skills development for youth and women.

'I once again call for a Marshall Plan with Africa,' the UNIDO boss said, adding, 'UNIDO is your partner for sustainable industrialisation. More than...