"The purpose of today's symposium is generally to support reforms on the African continent. As you know, in the address, political appeal to the UN Security Council, the Head of State defined 7 priorities of our work in the UN Security Council, one of which is to help Africa. Africa occupies much of the work of the UN Security Council. Therefore, we proceed from a simple understanding that without stability and peace there will be no development", Yerzhan Ashikbayev, Vice Minister of Foreign Affairs of the Republic of Kazakhstan said.
We note that over the past decades, countries in sub-Saharan Africa have experienced sustained economic growth. Countries such as Cape Verde, Ethiopia, Mauritius, Rwanda and South Africa have made great strides towards structural economic reforms. However, since 2015, economic growth in Africa has declined to 3%, largely due to a fall in commodity prices, which affected some of the largest African economies, dependent on commodities.
The economy of Africa is still largely underdeveloped and not diversified. Solving these problems requires structural changes in industrialization that would make the African economies inclusive and sustainable in the long run.
Photo by Azamat Aliyev