What: Launch of the Africa’s Development Dynamics 2022 Publication. “Regional value chains for a sustainable recovery.”
When: 4th February 2022. 4PM EAT.
Where: The event will be online. Join here - https://zoom.us/webinar/register/WN_NpcPvdSUQQ-sCgPFONSp_A
Who: The event will be addressed by among others:
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H.E. Albert. M. Muchanga, Commissioner for Economic Development, Trade, Industry and Mining (ETIM), AUC
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H.E. Jeffrey Schlagenhauf, Deputy Secretary-General for the Organisation for Economic Co-operation and Development, OECD
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H.E. Jutta Urpilainen, Commissioner for International Partnerships, European Union, EU
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H.E. Gerd Müller, Director General of the United Nations Industrial Development Organization (UNIDO)
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H.E. Mr. Hugues Mbadinga Madiya, Minister of Trade, Small and Medium Sized Companies and Industry of Gabon
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Prof. Sylvain Boko, Programs Director, African Capacity Building Foundation
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H.E. Tarek Hassan Amer, Governor, Central Bank of Egypt
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H.E. Mr. Papa Amadou Sarr, Minister, General Delegate for Entrepreneurship, Women and Youth at the Presidency of Senegal
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Presenters:
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Dr. Dossina Yeo, Acting Director Economic Development, Integration and Trade (EDIT), ETIM, African Union Commission (AUC)
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Dr. Arthur Minsat, Head of Unit for Africa, Middle East and Europe, Senior Economist, OECD Development Centre
Background
Strengthening African countries’ productive capacities is vital to their economic recovery. The COVID-19 pandemic is setting back Africa’s economic convergence with the world economy. African economic growth will reach 3.9% in 2022, one percentage point lower than the growth rate for the rest of the world, which stands at 4.9%. In 2022, Africa’s gross domestic product (GDP) as a share of the world GDP is expected to fall to 4.7%, the lowest level since 2002. COVID-19 has also reversed progress in reducing poverty in Africa, pushing at least an additional 29 million people into extreme poverty.
The Africa’s Development Dynamics 2022 covers a number of key issues on why the African continent must develop regional value chains for a sustainable recovery from the COVID-19 pandemic. The report, among other issues looks at:
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How the health and economic crises mutually reinforce each other and the importance of accelerating the vaccination programmes.
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The fiscal space available to African governments against the scope for fiscal stimulus.
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The production constraints that limit African producers’ ability to benefit from the rebound in global demand.
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Accelerating productive transformation for quality jobs that reduce poverty and strengthen Africa’s economic resilience.
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The opportunities the African Continental Free Trade Area (AfCFTA) provides for regional value chain integration.
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Regional policies for expansion of regional production networks that address structural constraints and risks in regional production.
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Lessons learned on past experiences on the importance of private-sector participation in developing regional value chains and adopting a bottom-up process driven by the private sector to sustain political momentum.
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Digital innovations and the increase in efficiency of trade-related logistics, customs and finance such as the use of the distributed ledger technology for cross-border payments and trade finance and smart contracts.
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Tailoring skills policies to technical needs and emerging trends to attract investment and increasing linkages with lead firms.
For further information, please contact:
Doreen Apollos | Information and Communication Directorate | African Union Commission | Tel: +251 115 517 700 | E-mail:ApollosD@africa-union.org l | Addis Ababa, Ethiopia.
Ms. Rumbidzai Treddah Manhando | Department of Economic Development, Trade, Industry and Mining | African Union Commission | E-mail ManhandoR@africa-union.org
Information and CommunicationDirectorate, African Union Commission I E-mail: DIC@africa-union.org
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