The member countries of the African Union (AU) are advocating the creation of a continental fund to speed up the process of industrialization in Africa and guarantee sustainable economic growth.

The fund should be seen as an opportunity to increase economic diversification in the member countries of this continental organization.

Meeting on Thursday afternoon in Niamey, Niger, the ministers of industry and trade from African countries also discussed the importance of the free trade area.

The Minister of Industry and Trade, Silvino Moreno, explained, as quoted by Rádio Moçambique, that the intention to create the fund to speed up industrialization in Africa has been well received, although some countries are warning of possible challenges.

Silvino Moreno said that the technical meeting served as an opportunity for the countries to share experiences on the importance of the Free Trade Area for industrialization in Africa.

The technical meeting on the opportunities and challenges of industrialization in Africa preceded the official opening of the extraordinary summit of the African Union, which has been taking place since today, Friday, in the city of Niamey, the political capital of Niger.