Addis Ababa, Ethiopia – 10 February 2016: The African Economic Platform will be launched in Port-Louis, Mauritius, on 14 - 16 April 2016. Announced by the AU Commission Chairperson, Dr. Nkosazana Dlamini Zuma, during the just-concluded 26th AU Summit of Heads of State and Government, the African Economic Platform will contribute to fast track African economic transformation toward the realisation of Africa’s Agenda 2063.

The participants expected to attend this first African Economic Platform will come from the public sector, led by Heads of State and Government; the African private sector, led by captains of commerce and industry; and the African higher education sector. This is a strategic approach by the African Union to bring together these three sectors to engage in discussions on cooperation and collaboration deemed to be critical for the continent’s growth and tangible economic transformation.

“The ultimate aim of the African Economic Platform (AEP) is to catalyze economic transformation on the continent by seeking solutions to, among other things, unregistered trade through informal cross-border exchanges, by promoting economic integration and greater intra-African trade, skills development and capacity building”, the AU Commission Chairperson said when making the announcement. She added that the Platform will also tackle environmental and policy limitations, and seek to increase Africa’s share of global trade.

Although trends in intra-African trade point toward progress, trade within Africa remains very low in proportion to total global trade. The share of intra-African imports was only 0.25 percent of world imports in 2015, while intra-African exports represent 0.26 percent of world exports. Research has indicated that intra-African trade comprises less than 15 percent of total African trade annually, highlighting the need for enhancing intra-African trade.

Describing why it is important to bring together these three sectors, Dr. Dlamini Zuma said: “The private sector, because of the role it can, and should, play in investment, industrialisation and intra-African trade; the higher education sector because of the significance of skills development, research and innovation; and government to ensure that policy, fiscal and macro-economic environments are conducive to the transformation of African economies, towards the Africa We Want in 2063”.

Agenda 2063 is a clarion call to all segments of African society to work together to build a prosperous and united Africa at peace with itself. It encapsulates continental aspirations for growth and prosperity, including aspirations for a prosperous Africa centered on inclusive growth and sustainable development.

The Agenda 2063 aspiration on inclusive growth in Africa envisions a prosperous continent with the means and resources to drive its own development. The African Economic Platform will propel economic growth on the continent and increase Africa’s share of world trade, thereby improving the livelihoods of ordinary people.

This platform, expected to be an annual event, results from extensive consultations with AU Member States and an outcome of a 2014 Ministerial retreat of the AU Executive Council.