Report Calls for Africa to Embrace Emerging Economies

Posted June 7th, 2011 at 12:25 am (UTC-5)
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A new U.N.-backed report says African countries should develop closer ties with emerging economies in order to boost sustainable growth.

The report released Monday says Africa is becoming more integrated into the global economy, and that a more diverse set of trading partners can help the continent.

The report says emerging economies such as China, India, South Korea, Brazil and Turkey can provide knowledge about technology and development to help raise the standard of living for millions of people in Africa.

The chief economist at the African Development Bank, Mthuli Ncube, says Africa is growing, but still faces risks. He says countries must also improve political accountability and address the bulging youth population.

The report is a partnership among the United Nations, the African Development Bank and the Organization for Economic Development and Cooperation.

In addition to partnering with other economies, the report calls for promoting different economic sectors and reducing reliance on cash crops and minerals.