Africa moves toward the center of global trade as trade tops $1 trillion
He made the remark on Monday in Minsk addressing participants at the opening of the two-day Belarus-Africa Forum. Africa was in a hurry for development and the continent boasted the youngest and most vibrant people, with 40 per cent of the population expected to be below the age of 30 by 2030, according to Dr. Oramah.
Touting the trade opportunities in Africa, he said that demand for investment goods was high and growing rapidly and that Africa needed an estimated $93 billion infrastructure investment annually for the next 10 years in order to close its huge infrastructure gap.
“Africa needs partners that can accompany it on the path to sustainable development; partners that can share their experiences about how to rise from poverty and deprivation to wealth and affluence; partners that can engage it in a fair exchange of goods and services; and partners that are willing to share their knowledge, technology and expertise so that together they and Africa can reap the promise of converting the potentials of Africa into kinetics,” stated the President.
He announced that Afreximbank and the Development Bank of Belarus had put in place an $800 million Belarus-Africa Trade and Investment Finance Facility to provide trade and project financing and risk cover for African and Belarusian entities to support trade between Africa and Belarus.
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