ACCRA, Jan. 29 (Xinhua) -- Ghanaian President John Dramani Mahama on Wednesday urged the African continent to build strong regional production value chains for a competitive edge in manufacturing and trade.
During the two-day Africa Trade Summit, Mahama said that it is time for the continent to build competitive industries across borders, where raw materials, intermediate goods, and final products move seamlessly within regions.
According to him, the creation of a single market of over 1.3 billion people through the African Continental Free Trade Area (AfCFTA) provides the scale needed to transform the continent into a viable manufacturing and investment destination.
For the AfCFTA vision to become a reality, the continent needs to tackle industrialization as a collective to derive the maximum benefits from its potential, added the Ghanaian president.
"Industrialization cannot succeed within fragmented national markets. Not every country can produce everything, but together we can build competitive industries across borders," Mahama stressed.
He noted that the continent must invest in transport corridors, energy grids, and digital infrastructure, while harmonizing standards and regulations. "Industrial integration requires market integration," Mahama added.
He called on African governments to provide leadership and stability, the private sector to invest and innovate, financial institutions to design long-term financing solutions, and development partners to align with Africa's priorities, while Pan-African institutions coordinate and remove barriers to integration.
The summit is organized by Africa Trade Chamber, a continent-wide organization leading advocacy for the continent to mobilize the needed capital for industrialization and trade. ■