"Industrialization is the best way to transform African economies," says UNECA

“Industrialização é a melhor maneira de transformar economias africanas”, diz UNECA

The acting executive secretary of the United Nations Economic Commission for Africa (UNECA) said yesterday, on the eve of the African Union summit, that industrialization is the best channel for the structural transformation of economies.

"Transforming economic structures is one of the five strategic points for achieving the Sustainable Development Goals directly aligned with inclusive and sustainable industrialization," said António Pedro, in a debate on the sidelines of the African Union (AU) summit, which ends today, Friday, in Niamey, Niger.

"Structural transformation remains one of the main challenges for the countries of the Sahel, and industrialization is the main channel for achieving it," he said.

He pointed out that eight of the 15 countries that make up the West African region are in the Sahel and given the challenges they face, "it is extremely important to invest in industrialization in order to change the narrative of this part of the continent, which today is synonymous with conflict and humanitarian needs".

The AU summit brings together the continent's heads of state and government and its theme is "The Industrialization of Africa: Renewed Commitment to Inclusive and Sustainable Industrialization and Economic Diversification".

The high-level summit convened as part of African Industrialization Week is expected to adopt a declaration stressing the importance of industrialization and economic transformation on the continent and how to make progress in these areas.

As part of the summit, there will also be an extraordinary session of the secretariat of the African Continental Free Trade Agreement (AFCFTA), which is expected to launch new tools to operationalize the agreement and adopt the second phase of this agreement that promises to transform trade between African countries.

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