Mexico has pledged to use its Presidency of the Group of 20 (G20) elite economies to ensure that rich countries do not apply policies that restrict trade and access to markets.
Roberto Marino, the Special Representative of the Mexican Presidency in G20, told journalists in Addis Ababa that efforts were also underway to convince rich countries to inject more funds into the African Development Bank (AfDB).
The G20 is the international forum for the international economic cooperation to improve the working of the global economy.
“Through the G20, we fortify organisations such as Africa. It is important to boost resources of the AfDB and other efforts taken to boost these resources could generate extra trade,” he said.
Mexico, whose officials have been attending the ambassadorial and ministerial level of the AU Summit, said it planed to use its leadership of the G20 to put in place policies to revitalize the world economy.
“We had the plan to commit to policy actions to put the world economy on a sustainable growth path,” Marino said.
African economies have recorded above average growth rates due to increased trade with the rest of the world, Marino said.
“The G20 process has avoided the recurrence of the protectionist measures and the temptation to close markets,” the Mexican official said.
Rwandan President Paul Kagame is due to address the African Union Summit on the subject of aid effectiveness at a time when the rich countries are faced with a debt crisis.
Marino said Mexico was committed to working out a solution that would be beneficial to other countries on the debt crisis, which has also resulted into difficulties for other African economies.
“It is a situation of fiscal debts. These are not just developing countries’ problems, but for developing economies too,” Marino said.
He said most countries were now more confident and had expressed “great satisfaction” with Africa for its efforts to sustain policies that promoted the high economic growth.
Meanwhile, Abdoulie Janneh, the Executive Director of the UN Economic Commission for Africa (UNECA), said those previously doubting Africa’s potential to grow fast, were now convinced of its potential.
The sentiments were also shared by top African Union official, Ibrahim Mayaki, the Executive Secretary of the New Partnership for Africa’s Development (NEPAD), who said Africa required ambitious goals to create jobs in Africa.
“The European actors see Africa as gold. We do not see it this way. As Africans, we should upgrade the way we see Africa. We have made progress in political governance and economic development,” Mayaki said