Accra, Dec. 3, GNA – The Moroccan Sovereign has made the development of the Atlantic African space one of the surest means of making the African continent a strategic pole both economically and geopolitically.
In his speech celebrating the 48th anniversary of the Green March, His Majesty King Mohammed VI launched a vast Atlantic initiative with an African scope, aiming to make this continental maritime space a zone of peace, stability, development and global influence.
In this perspective, the Sovereign proposes better exploitation of the continent’s potential to boost its own development.
The African Atlantic Area would be a real opportunity for all African countries, since it is an initiative with a great positive impact, particularly on the African Free Trade Area (ZLECAF), through the improvement of logistical mechanisms facilitating trade between African countries, economic growth, which will be characterized by an average annual increase in Foreign Direct Investment (FDI) of more than 5%, of which 40% will be allocated to the industrial sector.
The African Atlantic Area would also allow the establishment of continental value chains and industrial ecosystems, thus promoting African cooperation based on the principles of co-development.
In addition to the boom in trade between African countries and the rest of the world, contributing significantly to the economic and social development of African nations.
Another positive aspect of this initiative is the sharing of knowledge and exchange of best practices between countries on the continent, with the aim of optimizing logistics and commercial efficiency within Africa.
In addition to the increase in operating flows from the ports of the Atlantic African Maritime Area, especially with the development of connectivity by roads and railways between non-coastal countries and the Maritime Area.
Finally, develop high value-added industries in the countries of the region, such as the automobile industry in Mauritania, Ivory Coast and even in Sahel countries, especially since improving logistics performance can allow the creation of an Afro-Atlantic value chain of the automotive industry benefiting from Moroccan know-how, demographic advantages and the logistical competitiveness of ports in the African Atlantic Area.
The establishment of a national naval company, as put forward by His Majesty I King Mohammed VI, is an initiative of major importance intended to redefine the position of the Kingdom in the spheres of international trade.
It will contribute substantially to enriching the country’s logistical assets, thus adding competitiveness in the maritime domain to the various elements making up the Kingdom’s vast logistical competitiveness, such as port infrastructure, rail and road networks, among others.
In this context, this initiative could be included within the Royal vision of co-development. This process involves the establishment of a continental naval company, whose capital structure would be shared among several African nations.
The logistics activities of this entity will touch several ports in the region, thus contributing to joint economic development and the promotion of fruitful collaboration between the participating nations. The initiative would undeniably be the key to Africa’s positioning at the heart of world trade.
In a visionary approach, the African Atlantic Area is preparing to acquire the essential pillars of industrial success, thus laying the foundations of shared prosperity within the continent. This ambitious initiative includes three key elements that promise to redefine the region’s economic landscape.
Firstly, the establishment of the Transcontinental Gas Pipeline crossing all the nations of West Africa. This transcontinental gas network is emerging as a cornerstone, not only providing a vital source of energy, but also strengthening the energy sovereignty of African nations. This bold initiative will foster regional energy interconnection, promoting stability and energy self-sufficiency.
Secondly, the African Naval Company: A Lever of Regional Competitiveness.
In view of this initiative, the creation of an African naval company stands out as a decisive step. This entity, operating in regional waters and beyond, promises to be a major vector for improving the competitiveness of countries in the region. By strengthening logistics and commercial capabilities across maritime routes, this naval company will significantly contribute to the economic and commercial development of West Africa.
Finally, the Value Chain for Fertilizers: Support for Food Sovereignty. Another crucial aspect of this initiative concerns the establishment of a value chain dedicated to fertilizers. This strategic infrastructure will constitute a solid foundation for the consolidation of food sovereignty. By promoting the production and efficient distribution of fertilizers, it will contribute to strengthening food security in the region, a central issue for sustainable development.
In short, the African Atlantic Area is forging a path to the future by appropriating these major elements of industrial success. This initiative, anchored in a vision of co-development, demonstrates the commitment to shared prosperity and sustainable economic growth for the 23 nations of Atlantic Africa.
GNA