The 14th Ordinary Session of the Executive Council of the African Union: statement by Mr. Abdoulie Janneh, UN Under Secretary General and Executive Secretary of ECA 29 January 2009, Addis Ababa, Ethiopia

Abstract

This Statement delivered by Mr. Abdoulie Janneh, UN Under-Secretary-General and Executive Secretary of ECA at the 14th Ordinary Session of the Executive Council of the African Union. Mr. Janneh, on his remarks highlighted that, this meeting is taking place at a truly momentous time in African and global affairs. The current financial crisis is unprecedented in scale and scope and will impact on growth and trade as well as on investment, trade credits, remittances, and tourism. The economic and financial crisis underscores the need for cooperation and collaboration amongst states at various levels of development. This applies in particular to African economies which are relatively small and fragmented. Africa 's transport networks remain similarly underdeveloped while the implementation of the Yamousoukrou Declaration liberalizing air transport in the continent can be improved upon. These deficiencies impact negatively on the competitiveness of the African economy and need to be tackled through increased investment, better regulatory frameworks and investment priority setting. Africa's ability to meet its challenges head-on depends on the consolidation of peace and security and the cessation of violent conflict and civil wars.