There is urgent need to use more advanced technologies and innovations to better pace up and promote developments comprising the Small and Medium Enterprises, COMESA intends that to be move business in the regional bloc forward.
Leaders at the concluded 19th Heads of State Summit for the Common Markets for the Central, East and South Africa said that improved approach to innovation by use of technologies that rather address quality and speed needs would be helpful in the integration agenda including industrialization.
President Hery Rajaonarimampianina, COMESA Authority Chairman, said that the technology and innovation would go along with greening the economies, adding value to goods, diversification, and capacity building in private and public sectors.
“Let us forge stronger friendship and cooperation among COMESA Member States to share experiences addressing critical challenges faced in industrialization,” Madagascar President said under the Summit theme “Inclusive and Sustainable Industrialization.”
But it was also stressed that there will be no cohesion when countries don’t work together in implementing the set targets of the common markets in the region.
The summit was attended by Zimbabwean President Robert Mugabe, DR.Congo Minister of Foreign Affairs and International Cooperation Raymond Tshibanda Ntungamulongo, Rwanda Minister of Commerce, Trade and EAC Affairs François Kanimba, Sudan Vice-President Mr Hassabu Mohamed Abdalrahman to mention a few.
Brazil, Canada, Cuba, Germany, India, Finland, France, Japan, Nigeria, Norway, Palestine, Russia, Saudi Arabia, South Africa, Sweden, and the United States of America representatives were also present at a meeting includes international donors.
Rajaonarimampianina highlighted the priority of economic transformation and addressing the 5 global economy challenges, responding to African Union Agenda 2063 and SDG 9 and adding value to oceans and coastal economies. He emphasized investment in Agro industry, mining, textiles, and ICT.
However, it was identified that there is need for finance, stability, energy, and innovation to avail infrastructure that adapts economic transformation.
A Medium Term Strategic Plan is set to take place from 2016 to 2030 but the countries must abide with the AU Agenda 2063 that wants to silence guns by 2020 in the first 10 years.
Dr Amany Asfour, COMESA Business Council (CBC), reminded people at the meeting that industrialization should go together with preferential public procurement under the private sector Declaration adopted by the CBC Forum.