Economic growth: low production, export as major challenges

“Africa exports just 2.5 per cent of total world export in volume. So you can understand why our economies are suffering. We export very little. We rather import more which means we spend more to have the products. But when we produce more and sell or export what we produce we make money for ourselves. A country’s economic position depends on what it produces and not what it consumes. You need to produce more than you consume so that you can sell or export the excess and have money.

But if your economy imports more than it exports then there is a problem, and that is what is affecting all African countries.” This view by many stakeholders in the port sector featured in the keynote address by the Secretary General of the Ports Management Association of West and Central Africa, Michael Luguje, during the opening of the 3-day National Maritime and Port Day at the Sawa Hotel in Douala December 14.

The forum, presided over by the Minister of Transport, Edgard Alain Mebe Ngo’o, brings together shippers, consumers, ports managers and government to have an understanding about port and maritime transport as well as exchange within the goal of boosting investment and economic growth. The forum is holding on the theme: “Port sector: The compelling force of attractiveness for the promotion of investment and acceleration of growth.”