Economic growth has proved to be vital in reducing extreme poverty and improving lives of many poor people around the world and Africa would do well to focus on fostering relations that bring about such growth on the continent, experts said on Wednesday.
The experts told Xinhua in separate interviews that development has many facets and that economic development plays an important role in the realization of the many developmental goals that the world seeks to achieve.
Lawrence Banda, Universal Peace Federation Zambia Chapter Deputy General Secretary, said countries that invest in enhancing economic activities also do well in providing social services such as healthcare and education leading to improved living conditions.
“Development has many facets but one cannot dispute the role of economic development in improving the well-being of humanity as well as facilitating for the realization of other development goals. That is why Africa needs to begin to maximize economic opportunities that the world has to offer,” Banda, a peace and development specialist said in an interview.
Rose Fumpa-Makano, a researcher and lecturer at the Copperbelt University Dag Hammarskjold Institute for Peace and Conflict Studies, said enhanced cooperation between Africa and developed economies was vital as it helps facilitate technology transfer which is important for sustained growth.
Fumpa-Makano noted that much of Africa’s rich resources remained unexploited and that many of its people continue to wallow in poverty even in the midst of plenty because of underutilization of economic opportunities.
She said countries, such as China, offer a lot of trade opportunities including export trade from which Zambia and the rest of Africa stand to benefit from.
“We need to focus on enhancing economic growth through international trade and commerce and encourage the building of relations that bring this about,” Fumpa-Makana said.
“What is important is to ensure that we spell out what we want and be ready to take advantage of every opportunity in our spaces that would bring about economic prosperity,” she added.