18 July 2014

Ethiopia: African Economic Outlook 2014 Report Launched

The African Economic Outlook for 2014 report launched under the theme: "Global Value Chain and Africa's Industrialization" on 18 July 2014 in Addis Ababa.

The report indicates Africa's participation in global value chains still focuses mainly on low value activities even though opportunities exist for progressing to higher value chains.

At the launch of the report, Resident Representative of the African Development Bank Josephine Nigure said the economic growth registered in the past few years in Africa has helped it in rebranding itself to a hopeful continent in spite of low value activities.

She highlighted possible interventions that would help African countries to be in the global value chain and benefit from its positive impacts.

Ethiopian State Minister of Industry Tadesse Haile has called for home grown solutions to the low inclusion of Africa in the global value chain.

He expressed his government's gratefulness that 'the African Economic Outlook also provides data that would help Ethiopian policy makers, investors and development practitioners in furthering their work.'

United Nations Development Program (UNDP) Country Director, Samuel Bwalya mentioned Ethiopia as a model of development in some sectors.

'The African Economic Outlook cites Ethiopia as an example of how the development of agribusiness value chains can contribute to economic growth and job creation. Ethiopia has also managed to attract a significant number of global textile producers to the country and there by, increasing value addition and exports of finished products,' said Bwalya.

The director referred the theme of the report 'Global Value Chain and Africa's Industrialization' as an important topic for policy discourse which is so critical in refining the development orientations of African Countries.

Reporter: Daniel Kassahun

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