Global financial crisis

AU Commission Chairman Jean Ping told a press conference hereon Tuesday that the last summit fixed infrastructure development as the theme of the forthcoming gathering of African heads of state and government, yet the global slowdown has prompted the AU to make financial crisis another important topic for the 12th summit slated for Feb. 1-3.
Jean Ping noted that the global financial crisis has not hit very hard on the African economy.
He said as banks in African countries are not fully integrated with the international banking system, the financial shock wave did not hit Africa so hard.
However, he added that negative influence has been felt in such areas as impact on investment, reduction of foreign trade as well as the diminishing aid from rich nations.
As for measures to boost the African economy, Jean Ping said Africa must make its voice heard by the international community.

Vietnam plans

To realize the target, the association encouraged local exporters to develop new markets of great potential such as the United States, Russia, Japan, and Brazil rather just focusing on the traditional ones.
In addition, the association asked the sector to take steps to improve export models and diversify products for long-term development.