Opening statement by Dr. Maxwell M. Mkwezalamba, Commissioner for Economic Affairs African Union Commission

Abstract

This opening statement delivered by Dr. Maxwell M. Mkwezalamba, Commissioner For Economic Affairs African Union Commission at the Twenty-Fifth Meeting of Ministers of Finance, Planning and Economic Development. Dr. Mkwezalamba, on his remarks highlighted that, The African Union appreciates its participation in the various Conferences of African Ministers of Finance, Planning and Economic Development organized by the Economic Commission for Africa (ECA). Africa continues to face serious social, economic and political challenges. These include stagnating and low economic growth performance, declining per capita incomes, low levels of foreign direct investment (FDI), food insecurity, declining values of exports, high levels of external debt, HIV/AIDS pandemic, high unemployment rates and several social and political conflicts. Africa focuses on the creation of large and competitive markets to attract investments in the productive sectors of the economy. The African Union believes that the Ouagadougou Declaration has brought back employment to the table of decision makers.