Africa must take its place in global economy— President
AFRICAN countries are not just suppliers of raw materials, but vital and dependable partners in the global economy, President Mnangagwa has said.
Addressing the preliminary session of the 27th St Petersburg International Economic Forum here yesterday, President Mnangagwa said the perpetual marginalisation of the Global South was no longer acceptable.
He said a new global order was shaping up, and this would usher multiple centres of economic growth, innovation and cultural influence.
“It is regrettable and unacceptable that the collective West continues to pursue hegemonic tendencies that blatantly violate the sovereign equality of nations, justice and fairness as embodied in the United Nations Charter. There is general consensus that uni-polarity has no place in modern global politics and international economic relations.
“The reality points to a re-distribution of power among nations, as well as the emergence of multiple centres of economic growth, innovation and cultural influence.
“We recognise that a multi-polar world is the panacea to both opportunities and challenges that confront humanity.
“The old geo-political global order, dominated by a select few resulting in the perpetual marginalisation of most of us in the Global South, is no longer acceptable,” he said.
President Mnangagwa said the advancement of multi-polarity had greater potential for the developing world to realise balanced, inclusive development, modernisation and industrialisation.
Zimbabwe, he said, was guided by the philosophy, ‘friend to all and enemy to none’, pursuant to its engagement and re-engagement drive.
“Under the Second Republic, Zimbabwe is guided by the philosophy ‘friend to all and enemy to none’. We are convinced that mutually beneficial cooperation, partnerships and investments anchored by complementarity are a more sustainable foundation for
a multipolar world and the formation of new areas of growth.
“We welcome the transformation of the global economic relations and geo-political landscape through BRICS with additional new members, along with other emerging economies.
“In these efforts, the role of Africa remains critically important not as a mere supplier of raw materials, but as a dependable global partner in every facet of human endeavour and development,” President Mnangagwa said.
He said African countries like Zimbabwe should thus be supported in value addition and beneficiation while enhancing the continent’s productive capacities.
“As we pursue new areas of growth, the abundant sub-soil assets of Africa should be leveraged to drive shared sustainable development and economic prosperity.
“The new global supply chains demand that Africa be accorded the requisite support with regards to value addition and beneficiation. Further, there is a need to enhance the productive capacities of Africa.
“This is more urgent in view of Africa’s vast natural resources in critical green minerals, large tracts of arable agriculture land and a youthful population with robust entrepreneurial spirit.
“Coupled with the united market presented by the Africa Continental Free Trade Area, all lead to the right mix for shared growth under a fair, just and mutually beneficial multi- polar global order”.
President Mnangagwa called for the unequivocal removal of unilateral coercive measures that have been hampering the country’s developmental efforts. Zimbabwe, he said, was nonetheless making strides towards becoming an upper-middle-class economy by 2030.
“In our case as Zimbabwe, we call for the removal of illegal sanctions that have held back our economic development and growth for 24 years. To this end, strategic investments in key enablers and sectors of our economy are essential to unlock our potential.
“These include infrastructure, education, science and technology, renewable energy sectors and climate change adaptation.
“Zimbabwe is open for business and welcomes investments, partnerships and collaboration in all sectors of the economy. Technology and innovation serve as catalysts for growth, possessing the capacity to build bridges, grow new industries and revolutionise economies.
“As a result, we are embracing the digital revolution, investing in science, technology and innovation ecosystems and promoting education anchored by digital literacy.
“Our aspiration is to leap-frog Zimbabwe into an upper middle-income country by 2030.
“In this regard, we actively seek partnerships to realise this vision,” he said.
President Mnangagwa made a rallying call to Russian investors to explore business opportunities in Zimbabwe.
“As a nation, we are leveraging our strategic geographical location at the centre of Southern Africa, as well as skilled and educated workforce, abundant resources, and manufacturing expertise, to harness the opportunities presented by new prospects for growth and increased trade.
“We once again extend a cordial invitation to Russian investors to explore business opportunities in Zimbabwe,” he said. The President also expressed gratitude for the helping hand extended by Russia to Zimbabwe during its time of need.
“I thank you, on behalf of the people and Government of Zimbabwe, and on my own behalf, for the generous and timely donation of wheat and fertiliser, which we have since received.
“I also appreciate you, Your Excellency, for availing, through Ulrachem and Mr Dymitry Mezapin, a vessel for the transportation of fertiliser to Zimbabwe.
“This is a demonstration of your commitment to support the consolidation of Zimbabwe’s food security and sovereignty. Zimbabwe cherishes your consistent support,” he said.
President Mnangagwa said global issues such as peace and security, climate change, pandemics and economic inequality, among others, demanded collective global action.
“In a multipolar world, solidarity and co-operation among nations are indispensable.
“This should remain rooted in our shared desire for peace, unity and development that leaves no one and no place behind.
“In this respect, Zimbabwe considers the Russia Federation a consistent global ally,” he said.
President Mnangagwa said Zimbabwe was committed to playing its part in this transformative process as the world was becoming increasingly multi-polar.
“As we embark on this journey together, let us remain mindful that strength lies in our unity, adaptability and innovation.
“Together, we can forge a multipolar world that is more just, inclusive and prosperous for all,” he said.