Africa-Press – Angola. African experts in regional integration and economic development in Luanda, deemed the Lobito Corridor a strategic lever for the logistical sovereignty of the region boosting connectivity, trade and industrialization on the continent.
Speaking at the third Summit on Infrastructure Financing in Africa, the Director of Customs Administration of the African Continental Free Trade Area AfCFTA Secretariat, Demita Gyang, said the Lobito Corridor will strengthen connections between the member states and help fulfill the Agenda 2063.
She explained that this approach is integrated into the agenda and will be reflected in the increase in intra-African trade, within the framework of the implementation of the African Continental Free Trade Area.
The director of the Regional Integration Coordination Office of the African Development Bank (AfDB), Joy Kategekwa, stated that this is a new structure to facilitate the export of “made in Africa” products, also functioning as a catalyst for investments in human capital, placing youth and women at the forefront of development.
He considered the project as the renewal and advancement of the continent towards industrialization, pointing to the need to simplify the trade regime in the region, especially among the countries that are part of the corridor, with a view to boosting trade.
For the head of the UN Regional Division for Africa for Industrial Development, Victor Djemba, initiatives like this require a clear definition of the mechanisms for repaying investments and collecting revenue.
He said that the implementation of aligned industrial policies is fundamental to achieving the established strategic objectives.
The session also highlighted the potential for infrastructure investments linked to trade, industry, and agriculture in the three countries, capable of stimulating the attraction of private capital and boosting sustainable economic growth.
On the occasion, experts also addressed the role of physical infrastructure, with emphasis on logistics centers, the Port of Lobito, and the recovery of the railway line linking Angola to the DRC and Zambia, as structuring axes for the success of the corridor.
For More News And Analysis About Angola Follow Africa-Press
