African Union to Grow Continent’s Share in Global Trade to 20%
TEHRAN (Tasnim) – The African Union (AU) Commission is seeking to grow the continent’s share of global trade from the current 2% to 20%, the Union’s Director of Industry, Minerals, Entrepreneurship and Tourism Ron Osman said.
"In Africa, we are 1.5 billion people. The population of our continent represents 20% of the global population. What we want is for African businesses to represent 20% of global trade," she was quoted as saying by Nigerian Tribune. Currently "we represent 2% of global trade," Osman said, TASS reported.
"Nigeria has a population of 250 million; we want Nigeria to take its share in global trade, which is not currently the case," she said while on a tour and inspection in Abuja, Nigeria.
"Supporting Micro, Small and Medium Enterprises (MSMEs) is supporting businesses on the continent," the official said, adding that MSMEs represent 90-95% of businesses in Africa.
