ADDIS ABABA, Nov. 19 (Xinhua) -- More than 220 African experts and policymakers representing 43 countries and 60 African economic zones on Tuesday called for harnessing the potential of special economic zones to spur industrialization in Africa.
They made the joint call on Tuesday during the fourth annual meeting of African Economic Zones at the headquarters of the Africa Union (AU) Commission in the Ethiopian capital, Addis Ababa, which was held under the theme "Special Economic Zones (SEZs): Accelerator for Industrialization in Africa."
Attending the high-level economic zones-themed meeting, which was organized by the Africa Free Zones Organization (AFZO) in partnership with the AU Commission's Department of Trade and Industry, officials of various UN agencies, the AU as well as other international and continental organizations discussed the current state and future prospects of industrial development in Africa, with particular emphasis on the challenges and policy trends in the development of SEZs.
Richard Bolwijn, Head of Investment Research at the UN Conference on Trade and Development (UNCTAD)'s Division on Investment and Enterprise (DIAE), told the continental meeting the need to ensure existing and planned economic zones more sustainable so as to realize the integral socioeconomic targets of SEZs across Africa.
"Economic Zones are becoming expensive to set up, so financial and fiscal performance metrics and models should be more sustainable," Bolwijn emphasized during the opening event of the meeting of African Economic Zones.
The Ethiopian Minister of Transport, Dagmawit Moges, also echoed Bolwijn's comments as she underscored the crucial imperative to further tap into the economic potential of free zones by creating synergy with other relevant infrastructures.
"There is a strong need for transit and transport corridors to link Special Economic Zones with national and regional centers," the Ethiopian transport minister stressed.
The annual meeting of African Economic Zones was held on the margin of the AU Commission's flagship Africa Industrialization Week (AIW-2019), which is slated from November 18 to 22 under the theme "Positioning African Industry to Supply the African Continental Free Trade Area Market."
The AU Commissioner for Trade and Industry Albert Muchanga, who commended Africa Free Zones Organization (AFZO) and Tanger Med for "their initiatives benefiting African economic zones," also stressed that the meeting, being held on the margins of AIW-2019 "would further mobilize African leaders, policymakers, and private sector and development cooperating partners to enhance dialogue on the pan-African industrialization agenda."
"Special Economic Zones are important for structural transformation of Africa," Muchanga added.
Experts and policymakers attending the meeting also addressed topics pertinent to current challenges and trends of African economic zones, emphasizing on strategic directions and effective governance model, the contribution of economic zones for FDI growth and job creation, the importance of logistics competitiveness within economic zones, as well as skills development and training.
Mehdi Tazi Riffi, AFZO President, who noted AFZO's ambition to bring together African Special Economic Zones together, stressed that "AFZO was put in place by Africans, for Africans and to develop successful African Special Economic Zones."
The Africa Free Zones Organization (AFZO), which currently has more than 72 members representing 37 African countries, envisages improving the attractiveness of economic zones by "setting up of tailored model for economic zones development," it was noted.
Prior to the ongoing meeting in Addis Ababa, AFZO had previously conducted four similar regional meetings on SEZs in Ghana, Gabon, and Togo, eventually bringing together more than 500 participants from 30 different countries.
