Yemi Osinbajo has asked for greater integration of African economies to enable the continent develop free trade among AU member nations.
“We still have one of the lowest trade integration levels under 20 per cent while Asia is at 40 per cent and European integration is very much further ahead at about 60 per cent.
“The fact remains that other regions play as a bloc but Africa is still largely splintered into several economies and the ease of doing business across the region remains a significant challenge.”
He noted that the Continents Free Trade Area Initiative (CFTA), launch of the African passport and free movement of persons showed how the continent intended to grow in regional integration, which also showed how quickly the continent could move.
He said that the conference of the African Heads of State in July focused on a lot of those initiatives “and I am convinced that we are on the threshold of seeing a deeper and more integrated African market.’’
“We think that it is the private sector that would do what is required to bring the urgency and the sense of mission to all the plans in the AU.
“We will like to see greater synergy and collaboration in the Africa champions while all the organs of the AU get involved in economic integration issues.”
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate