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Dar es Salaam – Poor regional trade is one of Africa’s major hurdles.
Anna Tibaijuka, under-secretary-general and executive
director of the United Nations Human Settlements Programme (UN-Habitat), said
at the opening conference of the 20th World Economic Forum (WEF) on Africa on Wednesday that trade restrictions must be eased to create incentives which would
help Africa catch up with the rest of the world.
Ajai Chowdry, chairperson and CEO of HCL Infosystems in India and also a WEF joint chairperson, said that India in fact overcame its crisis of 1991 by throwing open all doors to trade and encouraging entrepreneurship in this way.
“In India, we followed a policy of inclusive growth, and this should help Africa too,” he said.
“India and Africa each have one billion people, so there are similar problems and solutions.”
According to Pat Davies, CEO of Sasol and another joint chairperson, business activity in Africa could be a great catalyst for growth.
“As companies in the oil and gas industry, we would like to see Africa grow,” he said.
“We would far rather invest and do business in this continent than in countries elsewhere that are further away and more expensive.”
Davies said that trade tariffs are at present a tricky issue since many countries are putting their own interests first in the aftermath of the financial and economic crisis.
“Africa must speak out about difficult trade tariffs and restrictions,” he said.
- Sake24.com
