Improving manufacturing competitiveness key to development

Addis Ababa, May 11, 2012 (WIC) - Panelists at the 22nd World Economic Forum on Africa indicated how Africa could bolster the productivity and competitiveness of its manufacturing sector.

Speaking at the interactive session, the panelists including Olusegon Aganga  Nigerian Minister of Trade and investment and Rob Davies South Africa’s Minister of Trade and Industry urged for the need to strengthening the business environment, improving the quality of labor supply and addressing the potential and peril of industrial policies in order to bolster the productivity and competitiveness  of African manufacturing.

According to the panelists, Africa accounts only 1 per cent of global manufacturing so far, adding that there is need to bolster labor intensive industries to use the human labor in the continent effectively.