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A call to strengthen regional integration in Central Africa through trade
For regional integration to be successful in the Central African region there must be strong political commitment.
Thu, 20 Jun 2019 14:37:34 GMT
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AI Generated Summary
- The importance of infrastructure development in linking economies and facilitating trade
- The role of private sector engagement in promoting business activities and trade facilitation
- The challenges posed by political factors and colonial-era borders in the region
Regional integration in the Central African region has been identified as a crucial step towards economic development and growth. According to Ousmane Dore, the Director General of the Central Africa Regional Development and Business Delivery of the African Development Bank, strong political commitment is essential for the success of regional integration. In a recent interview with CNBC Africa, Dore discussed the opportunities and challenges facing regional integration in Central Africa. The African Development Bank has identified regional integration as one of the key areas of focus in its transformation agenda for Africa. The bank's strategy emphasizes the importance of infrastructure development in linking economies and facilitating trade. Dore highlighted the significant investments being made in infrastructure projects in Central Africa, with a portfolio of regional projects amounting to 1.1 billion and a planned addition of 4.4 billion over the next seven years. The focus on infrastructure development, including ports, roads, and ICT, is seen as critical in connecting markets and promoting economic growth. Another key aspect of promoting regional integration is engaging the private sector in business activities. Dore emphasized the importance of trade facilitation measures and regulatory reforms to create a conducive environment for private sector participation. The African Development Bank is working towards easing visa requirements to facilitate business travel and reduce barriers to trade within the region. Dore highlighted the need for diversification of economies in Central Africa to enable intra-regional trade. He emphasized the importance of value addition and transformation of products to create job opportunities and expand markets. However, Dore also acknowledged the challenges posed by political factors and colonial-era borders in the region. Despite efforts to promote borderless trade within organizations like ECOWAS, political support for regional integration remains a key hurdle. Dore emphasized the need for member countries to recognize the arbitrary nature of colonial borders and work towards greater cooperation and unity. The success of regional integration in Central Africa hinges on a collective commitment from political leaders to overcome historical divisions and prioritize economic development. Moving forward, continued investment in infrastructure, private sector engagement, and political consensus will be essential in realizing the full potential of regional integration in Central Africa.