Successful organization, several business contracts concluded and thousands of actors mobilized…
Accelerating economic development and prosperity requires the combined efforts of governments, multilateral financial institutions, development finance institutions, sovereign wealth funds and private sector investors. This recommendation was made unanimously by all the speakers who participated in the closing panel of the 14th USA-Africa business summit, the work of which ended on Friday July 22 in Marrakech.
The participants thus welcomed at the same time the announcement made by the Vice-President of the United States, Kamala Harris, regarding the holding of the United States-Africa Leaders’ Summit next December. An event that will discuss challenges ranging from food security to climate change. Back to the highlights of the closing of the summit.
Morocco pleads for sovereignty in all sectoral strategies
Organized around the theme “Building the future together – the future”, the summit’s closing plenary constituted, indeed, a moment of collective reflection on the future of Africa, a promising continent at all levels. Speaking on this occasion, Ryad Mezzour, Minister of Industry and Trade, underlined the vision of His Majesty the King to adopt “a coherent and integrated policy with regard to our African brothers, based on investment joint wealth, human development and the strengthening of economic cooperation”.
Despite a difficult context full of challenges and marked by the reconfiguration of the international economy, Africa has all the assets to be an active player and better integrate into global value and processing chains.
African companies thus have a key role to play and are called upon to take commercial risks to seize the opportunities offered by a larger market by expanding their manufacturing base.
“Our priorities, as African countries, must be to place sovereignty at the heart of all sectoral strategies and to consider it as a priority for securing supply and employment. We must commit to encouraging local manufacturing, creating strategic reserves for certain essential products and diversifying the sources of supply of energy and food products,” added Mr. Mezzour.
A successful 14th edition
Morocco is also delighted with the success of this 14th edition of the Summit, placed under the High Patronage of His Majesty King Mohammed VI. Organized by the Moroccan government, in partnership with the “Corporate Council on Africa” (CCA), this event saw the participation of a large American government delegation, African ministers and decision-makers from the largest American multinationals and the business community. Africans.
We note the participation of 1,500 officials, 80% of whom come from the private sector, six ministers of foreign affairs as well as more than twenty ministers representing different sectors and more than fifty African countries. “More than 450 American companies were present, which is huge, while more than 5,000 contacts were initiated between representatives of the public and private sectors”, we note from Ryad Mezzour. On the American side, Florizelle Liser, President and CEO of the “Corporate Council on Africa” (CCA), underlined that “this Summit offered the opportunity to insist on the importance of joint action by the American and African governments, as well as the African and American private sectors, to advance investments and economic and trade relations between the United States and Africa”. Remember that this Summit also represented an opportunity to consolidate the strategic positioning of Morocco, the only African country to have concluded a free trade agreement with the United States, as a hub for Africa and a reference economic partner for the USA. The work in Marrakech was marked by the organization of high-level dialogues, plenary sessions, panels, round tables and side-events around the continent’s priorities in terms of food security, health, agriculture, energy transition, new technologies, infrastructure and integration of industrial ecosystems.