Regional blocs will facilitate economic growth

During the 42nd session of the Commonwealth Parliamentary Association, Africa, President Kagame commended the steady growth of trade and investment in Africa, pointing out that the decline in conflicts has helped accelerate growth. Africa has witnessed the establishment and expansion of various trade blocs, which have not only facilitated cross border business, but has also enabled the economies of member countries to grow impressively. Rwanda is a member of various blocs including the East African Community, COMESA and CEPGL. These blocs have helped remove barriers and created more opportunities for the people. The existence of regional blocs is a demonstration of the fact that African leaders are beginning to put the interests of the people at the forefront, enabling them to go beyond their borders and tap into wider markets, more employment opportunities and general facilitation of trade. Africa is now the ideal destination for large investors. The blocs undoubtedly constitute larger markets that play a key role in attracting investment. While the momentum has picked pace, it is up to the people and leaders to stay focused. However, there are still impediments that will slow the process and must be addressed with urgency. Corruption and delays by some countries to implement the various protocols agreed upon by member countries are some of the barriers. With political will, and citizens’ participation in the decision making process, as well as awareness of the benefits of integration, there is no doubt that Africa’s rapid growth will be sustained and consolidated. Ends

Opinions

Regional blocs will facilitate economic growth