Africa could rival Asia - Zuma

2012-01-28 14:07
Johannesburg - Trade between African countries would reduce poverty and stimulate economic growth, President Jacob Zuma said in Ethiopia on Saturday.

"Intra and inter-regional trade is not an option, it is an imperative," Zuma said in a speech planned for delivery at the 26th New Partnership for Africa's Development (NEPAD) heads of state and government orientation committee meeting in Addis Ababa.

The Nepad meeting was a forerunner to the 18th Ordinary Session of the African Union Assembly, which takes place on Sunday and Monday in the Ethiopian capital.

Zuma said Africa was poised for economic growth that could rival Asia, especially as the global economic balance of power shifted from north to south.

The International Monetary Fund said recently the economy of the African continent would grow by over five percent, on average, in the next two years.

"We have to take important steps to benefit from the opportunities that have become open," Zuma said. Weak infrastructure was a threat to the development of the entire continent and was a priority of the African Union.

South Africa was leading the AU's presidential infrastructure championing initiative and had been tasked with ensuring the north-south rail and road corridor was working. The corridor was the main trade route between Durban and Dar-es-Salaam, in Tanzania.

The initiative included physical and procedural improvements at border crossings, energy as well as information and communications technologies.

Excluding South Africa's road network, the corridor measured 8600 kilometres - some of which needed immediate attention.

The assessment estimated that US6.9bn was needed for capital investment and recurrent costs. Some work on improving roads was already underway. The president said that Africa lent itself to railway infrastructure but much existing infrastructure was inadequate and in poor repair.

"There is work to be done. But we must proceed, all of us, with a greater sense of urgency, with greater cohesion and more collaboration."

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
Read more on:    nepad  |  jacob zuma
NEXT ON NEWS24X publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Rugby World Cup 2015

All the action from the 2015 RWC, including live coverage of all 48 matches, breaking news, fixtures, results, logs - and much more!


Rugby World Cup 2015

Boks up to No 4 in rankings
Hooper cited over shoulder charge
Last chance for Paige to play?
WATCH: Maradona dances with Los Pumas in the changeroom
Traffic Alerts

It is time to focus on your daily rhythm. Are you putting too much attention on future projects and neglecting the day to more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.