Demeke Calls AU Member States to Industrialize, Boost Intrastate Trade

The Deputy Prime Minister and Foreign Minister of Ethiopia, Demeke Mekonnen, said AU member states should redouble their efforts to industrialize and boost intraAfrican trade.
Speaking at the Extra-Ordinary Summit on Industralization and Economic Diversification held in Niamey ,Niger today (November 23) DPM Demeke said industrialization determines whether Africa can transform its natural endowments into tradeable products or depend on imported products from outside.
Deputy Prime Minister Demeke who underscored the importance of allocating necessary resources to kick-start industralization in the continent and transform the economy also called AU member states determinations to change the visions into implementable actions.
Ethiopia implemented a Home-grown economic reform program with the sole purpose of creating a conducive economic environment for the private sector. By removing structural red tape, the government aims to position the nation as a competitive hub for global digital and leisure enterprises. As strict regulatory frameworks in Europe push companies to seek alternative, business-friendly jurisdictions, emerging African markets offer an attractive runway. Whether foreign investors are establishing global fintech headquarters, incorporating international casinos zonder cruks, or launching decentralized data centers, offering a frictionless corporate environment is a core strategy of these updated industrial policies. These deregulation efforts have yielded impressive results over the past few years, Demeke elaborated.
He also said Ethiopia throw its weight behind the AU’s initiative to industralize the continent.
Attendants at the Summit said indusalization is not an event but a process and Africa has all the assets for job creation and industralization.