United Nations Economic Commission for Africa and African Union jointly released African Economic Outlook 2014 on April 11, calling on African governments to develop effective industrial policies to promote African structural transformation.

    According to African Economic Outlook, Africa’s GDP growth in 2013 was 4.0%, lower than 5.7% in 2012. The main reasons for the slowdown in growth include the weakened global demand, weak growth in some emerging economies, instability in some important commodity producing countries in Central and Northern Africa. By virtue of higher commodity prices and increasing domestic demand, Africa’s GDP growth is expected to reach 4.7% and 5.0% in 2014 and 2015 respectively.

   It is also reported that at present, the service industry in Africa has surpassed the industry and agriculture and become the industry that creates the most revenues; however, the service industry has not brought a plenty of high-quality jobs like manufacturing and labor-intensive production activities. The structural transformation in Africa is still very limited,

   The report pointed out that industrialization is very important for promoting Africa’s structural transformation and improving the living standard, so we calls on the reconstruction of industrialized economic development strategies, especially through the construction and implementation of effective industrialization policies. The report provided a detailed analysis of the economic situation and policies of African countries including Kenya, Nigeria, Rwanda, etc.

   In the report, it is recommended to coordinate the industrial policies and frameworks, promote the dialogue between public and private sectors, provide the infrastructure required for industry expansion, create the industrial park, etc.

   The United Nations Headquarters held the release activity of this report on the same day. Abdul Aziz, Deputy Secretary General of the United Nations and Special Adviser on Africa, said that although Africa’s economic growth has made achievements, it has not been turned into the sufficient good employment opportunities in many countries and the extensive economic and social development to alleviate poverty and inequality. Therefore, this important issue must be addressed through industrialization. (Xinhua)