Regional integration essential for sustained development - UNCTAD

Accra, June 25, GNA - The United Nations Conference on Trade and Development (UNCTAD) 2009, has noted that Regional integration is essential for the sustainable development of Africa, especially in the wake of the current global crisis. The report, titled: "Strengthening Regional Economic Integration for Africa's Development" was launched at a ceremony organized by the Third World Network (TWN), a research and advocacy organisation, in Accra on Thursday.

The report said better links among countries, ranging from paved roads to banking co-operation, were needed to spur mutual economic growth among the African countries. It said over the past two decades, Africa had made progress in creating sub-regional institutions dedicated to economic integration but those institutions had not substantially increased intra-Africa trade, investment and mobility of people. The report said relative to other regions, Africa had by far the most fragmented market.

Alhaji Mohammad Mumuni, Minister of Foreign Affairs and Regional Integration said the continent was now in an era of a re-energized strategic rule, underpinned by shared values and knowledge-based approach to doing things.

Alhaji Mumuni said the continent was experiencing a new wave of optimism and that if old mistakes were not repeated it would achieve much to uplift the lifestyle of the people.

He said government was committed to pursuing people-centred policies in its dealings with members of the sub-region to make its people to enjoy the benefits of integration.

Dr Yao Graham, Co-ordinator of the TWN, Africa called on government to place importance on the issue of Economic Partnership Agreement and make it one of the issues to be discussed at the cabinet level since it had consequences on the entire economic framework of the country. 25 June 09