‘Africa should be positioned to once again have a bigger share on global trade’

By ZBC Reporter

AFRICAN Union Commissioner for Economic Development, Trade, Industry and Mining, Ambassador Albert Muchanga who is currently in the country, says the continent must be re-positioned to take up its share of global trade.

This Thursday Ambassador Albert Muchanga paid a courtesy call on Foreign Affairs and International Trade Minister Ambassador Frederick Shava.

Ambassador Muchanga said, among other issues, the closed door meeting deliberated on the work being done to reposition Africa to take up significant space on the global trade charts, which is now just under 3%, less than half of what it was in the 70’s.

“We had discussions on an in depth study we are under taking on how to re position Africa to take up her place on global trade. It used to be 6% in the 70’s and now it’s about 2, 8%,” he said

Discussions also touched on the need to create an African Stock Exchange.

Meanwhile, the African Development Bank Group Acting Vice President Mrs Yacine Diama Fal also paid a courtesy call on Ambassador Shava.

The bank has a strong portfolio of projects in Zimbabwe.

“This call is a prelude of visit by the bank’s president which is upcoming. It’s also in support of the arrears clearance process by Zimbabwe,” noted Diama.

With the mantra, a friend to all and enemy to none, the Second Republic continues on its path to boost the country’s trade.