G20 to help accelerate Africa’s industrialization process : analysts

By Liu Xin in Hangzhou and Leng Shumei in Beijing Source:Global Times Published: 2016/9/6 1:13:39

The Group of 20 (G20) summit in Hangzhou, East China's Zhejiang Province will help accelerate Africa's industrialization process and provide the continent with a wider platform to participate in global issues, analysts said.

Besides South Africa, leaders of member countries of the African Union including Chad and Egypt also attended the summit.

[Their attendance] means Africa is an important partner to the G20, Mesmin Obambe, a reporter from the People's Republic of Congo, told the Global Times on Monday.

G20's focus on the world economy cannot go without Africa, Obambe said, adding that Africa is rich in raw materials and labor, and it is also a huge market.

"After the summit, Africa is likely to attract more overseas investment in a bid to rapidly develop its economy in the future," said Li Zhibiao, a research fellow at the Institute of West Asian and African Studies of the Chinese Academy of Social Sciences.

Li added the biggest obstacle to Africa's economic development is its single economic structure, which relies on primary product exports like beer and clothing.

Chinese President Xi Jinping said during the summit's opening ceremony on Sunday that the 2030 Agenda for Sustainable Development should be realized to promote inclusive growth.

This is the first time the G20 will have an action plan for the agenda, and it will provide support for the industrialization of African countries and the least developed countries, according to the Xinhua News Agency.

It is good that the G20 will give financial and logistics support for Africa's industrialization since it would help more young people work, get access to education and raise children, Obambe said, adding that more international organizations should help facilitate multilateral cooperation between the outside world and Africa.

Fredrick P.W. Gaye of Liberia's In Profile Daily newspaper also told the Global Times that the participation of African reporters in the G20 summit help more people in Africa know about the summit.

And letting small economies play a role in the summit also makes them understand that the G20 does not only belong to big countries but also to the whole world, he said.

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