( 3 minutes read)
· Canadian Prime Minister Justin Trudeau was in Ethiopia
recently to join the African juggernaut and spent his time with
African Union leaders at their summit in Addis Ababa
· Canada’ presence in Africa is insignificant; Canadian
products’ share in African imports is still low, below one percent
· Canada is under performing, despite the fact that Africa is
home to six of the world’s 10 fastest growing economies
Canadian Prime Minister Justin Trudeau was in Ethiopia recently to
join the African juggernaut and spent his time with African Union
leaders at their summit in Addis Ababa. Later, he visited Senegal. The
main focus of Trudeau’s visit was winning African support for Canada’s
bid for a temporary seat on the UN Security Council for which voting
will take place later this year. But the Canadian President devoted
considerable time to discuss business matters with the African
leaders, particularly kick-starting talks in Ethiopia toward a foreign
investment protection agreement to participate as a keen player in the
industrial landscape of Africa.
Canada’ presence in Africa is insignificant. Canadian products’ share
in African imports is still low, below one percent. As against this,
the European Union and Britain have entered into strong partnership
agreements, China is pouring investments in infrastructure sectors
like roads, highways, ports, airport, convention centers etc. and the
U.S. is responding to China’s push with its own Prosper Africa
project. In comparison to these mega deals and interventions, Canada
is under performing, despite the fact that Africa is home to six of
the world’s 10 fastest growing economies. Its overall gross domestic
product is growing at 3.6 per cent annually, faster than the global
average. The new program initiated by several African countries to
offer citizenship to high net worth people and entrepreneurs, it is
reported, will help to attract over 200 million new residents by
2025. By 2045, Africa will have a larger urban population than China
or India. Experts feel that sub-Saharan Africa is going to be growth
hub of the world in the coming years on account of the great
transition the region is undergoing now.
Admittedly, there are valid reasons for the latest overtures of
various countries toward Africa and Canada is no different.
