“This meeting is taking place at a critical time for Africa when the need for integration is paramount for Africa,” said the AUC Chairperson, Dr. Nkosazana Dlamini Zuma during the opening on 30 March 2015 of the Eighth Joint Annual Meetings of the African Union Specialized Technical Committee on Finance, Monetary Affairs, Economic Planning and Integration and the Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development, holding at the Conference Hall of the UNECA in Addis Ababa, Ethiopia.

The AUC Chairperson reiterated the notion that even though some people may look at the Agenda 2063 as ambitious there is no harm in being ambitious given that the implementation of this agenda is doable. She therefore called on all Member States to invest in their people’s skills development so that they can usefully contribute to make Agenda 2063 a reality as this will better the lives of the African citizen.

Dr. Dlamini Zuma recalled that 2015 is the “year of women empowerment”, therefore the need to recognise the work of women in different fields including the agriculture sector, education, infrastructure etc., underscoring the need to increase financial support to women so as to empower them since they encompass the majority of the population.

Mr. Paul Kagame, President of the Republic of Rwanda in his opening speech called on regional collaboration to build relevant and sophisticated systems to manage African financial resources. President Kagame underscored that a unified Africa will be achieved faster with collaborative efforts on integration by increased forces in the application and domestication of political will by AU Member States. He called on the involvement of the private sector to work with the governments in planning and implement the AU development agenda.

Dr. Sidi Ould Tah, Minister of Economic Affairs and Development of Mauritania on his part said, industrialization should be prioritized. He called on the Members States to improve their capacity to mobilize internal and external resources.

Mr. Carlos Lopez, Executive Secretary of the UN Economic Commission for Africa, recognized the strategic importance of partnerships between the Economic Commission for Africa, the African Development Bank and the African Union which he said has influenced high levels of policy formation in support of Africa’s transformation. Mr. Lopez emphasized on the need for diversification of economies in Africa with key focus on industrialization as the vital structural transformation Agenda of African economies.

“The time has come for us to awake. Africa’s current trade policy plays a major role in our inability to excel,” said the Executive Secretary of the ECA.

Mr. Hailemariam Dessalegn, Prime Minister of Ethiopia urged for increased reliance on domestic resources and the need to step up efforts to finance and utilise diverse sources of financing. He called on governments to effectively utilise diverse sources of financing for economic development.

Addressing the delegates he said that the international private sector will help with delivery of skills and infrastructure. He invited the international community to support Africa’s agenda of economic self-sustainability.

The ministerial meeting ends on Tuesday 31 March 2015.