Arab Today, arab today north africa should integrate economies to speed growth
Last Updated : GMT 06:58:51
Arab Today, arab today
Arab Today, arab today

North Africa should integrate economies to speed growth

Arab Today, arab today

Arab Today, arab today North Africa should integrate economies to speed growth

Algiers - Arabstoday

Better integration of North African economies can have a vital impact on their overall development, claims a new report from the African Development Bank (AFDB). Entitled \'Unlocking North Africa’s potential through regional integration,\' the report looks at the key challenges for regional integration in North Africa\'s six Arab countries: Tunisia, Morocco, Algeria, Egypt, Libya and Mauritania. Among its recommendations are that these nations, which have widely different natural and human resources, attempt closer integration to create new opportunities for growth, employment and improved living standards. It points to Tunisia, Morocco and Egypt, which have large private sectors and diversified production bases, contrasting them with Libya and Algeria, which have a surplus of capital and large markets for goods and services as well as job opportunities for migrants. Despite the potential, regional integration remains extremely limited, the AFDB says. The level of intra-regional trade in North Africa is the lowest of any region in the world, the report claims. It calculates the economic cost of this lack of integration at around 2 to 3 per cent of total GDP. Security concerns and a lack of political will are named as the greatest obstacles to regional integration, with the report citing the example of the Algeria-Morocco border, closed since 1994. The AFDB claims the closure has effectively split North Africa into two distinct parts, limiting trade and investment initiatives. Political support for change in North Africa has also been sporadic, it says, with countries having a poor history in implementing various bilateral agreements. Further proof of the difficulties comes in the lack of a single institution to unite North Africa\'s six countries. The Arab Maghreb Union (AMU) includes all nations except Egypt, which belongs to the Common Market for the Eastern and Southern Africa (COMESA). By contrast, the Community of Sahel-Saharan states (CEN-SAD) includes all countries except Algeria. Though AMU and CEN-SAD have developed long-term programmes to encourage economic integration, these are little reflected in national policies and no significant progress has been made in ratifying regional agreements. The region\'s political uprisings, which resulted in the toppling of half the governments of the six nations, is having a complicated effect on the drive for North African integration, says the report. More open political systems might strengthen economic collaboration among countries and encourage integreations as the best approach for increased development, AFDB says.   But there is also a chance that some countries may adopt more inward-looking economic policies, perhaps introducting protectionism and greater financial controls to cope with the new demands of their citizens. Overall, however, the bank sounded a positive note. \"Despite these challenges, in the wake of the Arab Spring, the emerging political landscape in North Africa promises to give new impetus to regional integration efforts,\"  said Jacob Kolster, AFDB Regional Department Director for North Africa. Among the report\'s proposals are for countries to strengthen their financial infrastructure, harmonise regulatory policies, and remove market impediments to cross-border activities. Improvements in road networks and ports are encouraged, as well as reduction in trade barriers between the six North African nations. The IT sector is also touted as having great potential, with the AFDB pointing to the region\'s trained personnel and the presence of multinationals with advanced technology. “The potential is huge,” says Emanuele Santi, economist at AFDB and coordinator of the report. \"The new political context in North African countries and the crisis in Europe, which compel countries to diversify markets, offer a golden opportunity to refocus on the regional integration agenda as an engine of growth for all countries.\"(ahram)

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today north africa should integrate economies to speed growth Arab Today, arab today north africa should integrate economies to speed growth

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today north africa should integrate economies to speed growth Arab Today, arab today north africa should integrate economies to speed growth

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday