News from Berlin

Berlin Presented the African Economic Outlook 2014

June 11th, 2014

News from Berlin – Last week saw the presentation of the African Economic Outlook in Berlin with Parliamentary Secretary Thomas Silberhorn commenting on facts about African Economy and further responsibilities Germany shall take over. Silberhorn claimed that Africa shared three per cent of world trade in 2013 and that trade within African countries is underdeveloped compared to other areas of the world. He sees higher integration of the African economy in regional and international value chains as a central precondition to guarantee a successful economic development in the continent.

The Federal Ministry of Economic Cooperation and Development will increase its cooperation with Africa in the fields of establishing and improving specialized knowledge as well as promoting private-sector initiatives. By supporting regional agricultural value chains such as cashew, cotton and cocoa Germany will try to help their African partner countries. Hence, the partners will not only be able to cover their personal needs but also get better access to international markets.

The annually conducted African Economic Outlook this year examined chances of African economy to be integrated into global value chains. The report published by the African Development Bank in cooperation with the OECD and the development program of the United Nations demonstrated that investments in education can raise the competitiveness and therefore enables improved export business.

News from Berlin – Berlin Global