According to the United Nations official website on September 26, in order to further promote the implementation of the Third Industrial Development Decade for Africa, the United Nations Headquarters in New York held the theme of “Promoting the Global Cooperation for Industrial Development in Africa during the 73rd Session of the UN General Assembly”. High-level activities to successfully implement the key elements of the African Free Trade Area. The Deputy Secretary-General of the United Nations, Amina Muhammad, said that the African economy has started to grow since the decline in 2016. Actual output is expected to increase by 3.6% in 2017, up from 2.2% in 2016 and is expected to accelerate to 4.1% in 2018 and 2019. This good news reflects the enormous potential of the African continent. Despite the positive growth of the African economy, challenges remain in achieving meaningful inclusive and sustainable industrial development. Achieving economic diversification in Africa is critical to sustainable growth, market resilience and economic shocks. To this end, the United Nations welcomes the African Free Trade Area launched this year.
Amina Muhammad pointed out that sustainable industrialization is the key to the success of the free trade zone, with a focus on inclusive development, harnessing the energy, motivation, creativity and skills of women and youth. The United Nations has developed a blueprint for the implementation of the Third Industrial Development Decade for Africa, including five areas of particular concern: first, to ensure that regional and industrial policies are coherent and cohesive. Second, strengthen investment in infrastructure development. Third, expand the value of local contacts, with a focus on agriculture and other natural resources. Fourth, promote trade capacity building to participate more fully in regional and global value chains. The fifth is human capital development and technology, with a focus on women and youth to ensure inclusive development.
Amina Muhammad emphasized that the agenda set by the Industrial Development Decade and the African Free Trade Area cannot be achieved by any entity or country. African countries need to build and strengthen partnerships among all relevant stakeholders and continue to use innovative approaches to mobilize financial and non-financial resources, including pension funds, insurance and other large private capital