Diplomat : Vision of United Prosperous and Peaceful Africa Depends on Economic Structures’ Transformation

Arrouchi, who chairs the Sub-Committee of the AU Permanent Representatives Committee (PRC) on economic, trade and FTAA, stressed that to achieve such an objective, and beyond the cyclical effects of the COVID-19 pandemic and the conflicting geopolitical context, “we are obliged to take up the structural challenges that handicap continental economic growth, notably climate change, problems related to debt and lack of sustainable financing and the resurgence of peace and security issues.” said the diplomat who presented the Report of the PRC Sub-Committee on Economic and Trade Issues and the AfCFTA during a session held by video conference.

Arrouchi said that the report submitted to the PRC illustrates the efforts made and achievements made to address some of the above-mentioned challenges over the period January to December 2022 in the areas of economic development and trade integration.

In the area of economic development, significant progress has been made in various areas relating to the development of inclusive and sustainable financing mechanisms, strengthening domestic resource mobilization, economic research through publications and studies, harnessing the potential of tourism for socio-economic transformation, promoting entrepreneurship, private sector development and investment, developing a continental approach to quality infrastructure, and implementation of the Africa Mining Vision (AMV), the diplomat said.