Malabo, July 03, 2024 (CEA) - "We need to work in a global perspective by interconnecting the interventions of all agencies. ECA's contribution is very important. Equatorial Guinea needs the support of the UN Country Team to consolidate its economic diversification strategy" Anna Marttinen-Pont, Resident Coordinator of the United Nations System in Equatorial Guinea has emphasized.
Equatorial Guinea accounts for 7% of the Congo Basin, and has comparative advantages in the blue economy, tourism, agriculture and fishing. In a coalition approach, the United Nations System can support the government in developing these sectors to boost economic growth.
To achieve this, the statistical system needs to be strengthened, the debt to be brought under control, the foundations of education to be solidified, and technical and vocational training intensified. Jean Luc Mastaki, Director of ECA's Sub-Regional Office for Central Africa, believes that "all these sectoral actions could be embraced as part of a joint United Nations action to support Equatorial Guinea in implementing evidence-based economic policies".
As part of Equatorial Guinea's national strategy for implementing the AfCFTA, ECA has made a number of recommendations that should facilitate work in coalition mode. These include agriculture with the FAO, natural capital and the carbon credit market with the United Nations Environment Programme. ECA is also keen to support the country in the development of a national private sector that places SMEs, and in particular young people and women, at its heart. The issue of business financing, particularly for SMEs, can be discussed with partner institutions that ECA is mobilizing to develop value chains.
"ECA will step up its partnership with the United Nations country team in Equatorial Guinea. We will be training economists from the government and the resident coordinator's office to the ECA's sustainable development integrated planning and reporting tool. It enables the alignment and integration of the objectives of Agenda 2030 and Agenda 2063 into national development plans" indicated Jean Luc Mastaki, who hoped that this training would be extended to other economists from UN agencies. The tools will enable Equatorial Guinea to improve its score in the implementation of the 2030 and 2063 agendas.
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Zacharie Roger MBARGA - Communications Officer
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