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Barroso calls Africa to integrate like EU for boosting growth

31 March 2014 20:13 (UTC +04:00)

Baku-APA. European Commission President Jose Manuel Barroso on Monday suggested Africa to learn from the European Union(EU)in market integration for boosting trade and economic growth, APA reports quoting Xinhua.

Barroso gave his remarks at the 5th European Union - Africa Business Forum,saying the EU and Africa should explore the potential of mutual benefit mainly through private sector.

He illustrated the potential of Africa by mentioning that Africa will add a further 122 million people to its workforce in this decade.

"There are now more than 1 billion mobile subscriptions throughout the region (Africa). It is expected Africa's rise will create an extra 128 million consumer households by 2020. In short: the potential is huge," said Barroso.

He suggested Africa make use of potential of the youth and private sector through an integrated market frame.

"Just as Europe has benefited enormously from integrating its single market, so Africa is now moving forward with regional and intra-continental trade. That is critical: in the European Union, 72 percent of all trade is within Europe; in Africa it is currently only about 12 percent."

At the same time,he urged Africa to pay more effort to boost private sector.

"It is the private sector that will have to reap it. Its contribution to inclusive and sustainable growth is vital. It provides some 90 percent of jobs in developing countries. It is an essential partner in the fight against poverty, and it takes up this role with relish." He added.