The Commissioner for Trade and Industry of the African Union Commission (AUC) held a media event Thursday to emphasize Africa's need for structural transformation.
African leaders are concerned that if the nation does not industrialize, it will be unable to keep up with the worldwide market. This makes structural transformation a significant component of Africa's development.
“I want to highlight two critical initiatives that are central to ensuring that the AU’s trade and Industry agenda will play a catalytic role in the continent’s transformation agenda,” H.E. Mrs Fatima Haram Acyl said. “These are initiatives related to the Africa Mining Vision as well as the Boosting Intra African Trade and fast tracking the Continental Free Trade Area.”
The event, themed “The African Union’s Trade and Industry Agenda as a catalyst for Africa’s Development,” is part of the 26th African Union Summit of Heads of State and Government. The country’s structural transformation is included in Agenda 2063.
“The strategy reviews the state of play of agriculture, mining and energy commodities in Africa and identifies and articulates areas of national, regional and continental policy and will be finalized this year,” Acyl said.