Zuma: Economic outlook for Africa remains promising

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PRETORIA – South Africa President, Jacob Zuma said on Thursday that
spite of the turbulence affecting the global economy, the economic outlook for Africa remains promising.
Zuma spoke at a business forum taking place in Pretoria on the sidelines of Zimbabwe’s President Robert
Mugabe’s two-day state visit to South Africa.

He said that an integrated Africa had the potential market of 2.6 trillion U.S. dollars, adding that a prosperous and
growing African economy is good for the continent’s development.

The forum provided an opportunity for business people of both countries to exchange views on how South
Africa and Zimbabwe can work together to advance economic cooperation for mutual benefit.
Zuma said that an integrated Africa offers many opportunities for mutually- beneficial and investment
partnerships between the two countries.
He however pointed out that intra-regional trade and sustained growth on the continent should be
preceded by enabling technical and transport infrastructure.
In addressing these challenges, various African countries have signed the Tripartite Free Trade Area (TFTA).
One notable initiative already launched the arrangement is the Tripartite North-South Corridor
Investment .
Zuma said he was honored to champion the North-South Corridor initiative on behalf of the African Union.
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will unlock many opportunities in the continent,” Zuma said.
“The business delegations have the requisite skills in the various sectors and hope that true partnerships will be established to advance the bilaterial economic cooperation”, Zuma said. (Xinhua/NAN)
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