Statement by Dr. Abdalla Hamdok, deputy executive secretary of ECA

Abstract

Statement by Dr. Abdalla Hamdok, Deputy Executive Secretary of ECA at the 2013 African Economic Conference, jointly organized with our partners, AfDB and UNDP. Dr. Hamdok, on his remarks highlighted that, Regional integration is not a choice for Africa, but an imperative that is both beneficial and possible. many Africans continue to live in chronic poverty, its young people face futures without jobs and the continent remains vulnerable to internal and external risks including shocks emanating from the global economy as well as threats of social and political instability and natural calamities. There is no doubt that Africa is making considerable effort in order to integrate. The decision to fast-track the establishment of the Continental Free Trade Area (CFTA) brought the vision of the Abuja Treaty to create an African Common Market by 2023 one step closer to reality. Regional integration arrangements can create winners and losers, making it essential that members assess the prospective benefits and costs of regional integration to boost gains and minimize losses.