Kenyan Deputy President William Ruto has said there is need to dismantle trade and cultural barriers that hinder the growth of African economies.
Speaking at the ongoing Africa CEO forum in Abidjan, Ivory Coast Monday, Ruto said regional and continental integration was critical in bringing down the walls that separate African countries and significantly expand intra-Africa trade.

The Deputy President said competition for the same markets among African countries was only hurting African economies and called for urgent integration of African economies.

“Intra-African trade is at a dismal 15 per cent while trade with Europe is at 60 per cent and Asian countries at 40 per cent. We need to free our economies. We can’t protect our economies and expect to make any impact on the international scene,” he said.

Ruto, who is one of the key speakers, noted with satisfaction that the Eastern and Southern African regions were making positive efforts in regional integration noting that efforts are being made to bring the Southern Africa Economic bloc SADC, the East African Community and the Common Market for Southern and Eastern Africa (COMESA) together.

“This effort will bring together 26 countries with a population of 625 million people and an economy of $1.3 trillion with a huge potential for trade and investment. We must not have a low ambition for ourselves to make an impact on international trade,” he added in the statement issued in Nairobi on Tuesday.
Ruto said Africa must leverage on the technology and opportunities available on the continent and lip frog economies of the continent to middle income and developed status.

The forum was opened by Ivorian President Alassane Ouattara on Monday, with the President of the African Development Bank Akinwumi Ayodeji Adesina and Nigerian business magnate Aliko Dangote in attendance.

Source: Star Africa

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