11TH CONFERENCE AND 12th MEETING OF THE ASSECAA, RABAT, MOROCCO, FROM 03-03 MARCH 2022.

Theme II: “Economic and commercial exchanges between Africa, the Arab World, Latin America and the Caribbean: Realities and Prospects.’’

1. The international financial crisis highlights the need to help the poorest countries to strengthen their links with international and regional markets. The Economic and commercial exchanges are directly linked to poverty reduction and efforts to help people emerge from it.

• The Economic and commercial exchanges are considered as factors of growth and as a vector of reduction of poverty. Commercial exchanges can play a key role to help countries overcome the shock of the financial crisis.

• To strengthen cooperation in the economic field, economic, trade and investment exchanges should be promoted among our respective countries in order to eradicate the challenges of poverty existing from one country to another. Burundi is trying to position trade as an essential pillar of her strategy for development, employment promotion and reduction of poverty.

• The new trade policy of Burundi, as predicted by the authorities for the coming years, is presented in several framework documents, among which “Burundi Vision 2025”; the Strategic Framework for Growth and the Fight against Poverty (CSLP II); the national agricultural strategy (2008-2018); the national industrial and commercial development strategy; and the national strategy for sustainable development of tourism, as well as the national strategy for the development of private sector.

• Moreover, Burundi aims to achieve all its objectives related to trade policy by inducing better social inclusion, and promoting economic growth and sustainable development.

• The Arab countries are urged to increase their current levels of investment since they have financial resources. The BADEA has established different mechanisms throughout several sectors, particularly in infrastructure, agriculture and health, which are necessary to stimulate economic and financial development of the private sector in its activities related to foreign trade. Africa must in turn strive to build reliance with investors, fight against corruption, ensure predictability and quality of laws and regulations and initiate sustainable projects.

• Africa’s opportunities are the best returns to investors for untapped resources. Commercial agriculture could reach its full development if it is properly tapped with the right techniques and mechanisms. The strategy of funding the private sector which was adopted by Arab funding institutions is becoming intensive technical assistance for Africa. It is essential to support the private sector. However, it is relevant to have political and economic stability in order to build confidence with potential investors who are interested in high returns and low risk in their investments.

• The financial crisis which we are currently experiencing following the Covid-19 pandemic will affect all developed and developing countries, but the most severe effects will be felt primarily by poor and developing countries.

• Participation in international trade is likely to bring certain benefits because it allows a country to exploit its comparative advantages, to exploit economies of scale and to guarantee the play of competition, which reinforces the diversity of products and, potentially, market stability.

1. It is important to finance the education of the youth and women as an educated workforce in order to build and promote Africa’s place as a major financial actor in the world. Additional measures are being considered. In Burundi for example, to support the youth and women who are involved in trade, there are banks which are created for them (the Investment Bank for the Youth (BIJE) and the Bank for Women’s Investment and Development (BIDF). Small businesses and less developed countries in Africa need to be taken into consideration to render the free trade area more inclusive.

1. Finally, at the national level, trade has been placed at the heart of the National Development Plan, and the National Trade Policy as well as the National Trade Sector Development Plan provide a solid foundation in this regard. In addition, synergies across and within sectors are essential for the successful expansion of trade, as all sectors have a role to play in economic development.

Thank you for your kind attention

                                    God bless you.