Formal opening ceremony of African Development Bank annual meetings kick off Wednesday
- 6 years ago
AFDB 연차총회 공식 개막식 부산서 열려
South Korea plays host to the 53rd annual meeting of the African Development Bank.
Delegates from around the world gathered to discuss ways to help boost Africa's industrialization.
Kim Hyesung was at the opening ceremony held over in Busan.
"On behalf of the Korean government and the Korean people, I would like to welcome all of you to the 2018 annual meetings of the African Development Bank."
Over 4-thousand delegates from 80 countries, including government officials, business leaders, and officials from the African Development Bank and the World Bank gathered in Korea's southern port city of Busan to discuss the theme of "Accelerating Africa's Industrialization."
Right here in Korea, a country that has achieved remarkable economic development and that stands as an example to the rest of the world. The 'Miracle of the Han River' did not happen by chance, it happened through industrialization, pure and simple....Africa needs to industrialize and add value to everything it produces, from agriculture to minerals to oil to metals, everything."
Rich in natural resources, and with a young population, Africa is one of the fastest growing regions in the world, with the World Bank forecasting Africa to post solid growth of over three percent over the next couple of years.
But around 70 percent of Africa's total exports are raw materials, which are vulnerable to changes in global commodity prices.
To make a transition from simple goods to value added goods along the global supply chain and lift Africa's GDP per capita, the African Development Bank plans to invest 35 billion dollars over the next 10 years on industrialization.
The Bank says South Korea's experience in industrialization in infrastructure and manufacturing is a good model of development, and that the two are set to cooperate further in technology and knowledge sharing programs.
South Korea has also pledged to invest five billion dollars in Africa by 2020.
On the sidelines of the panel sessions, South Korean and African companies are holding one-on-one business meetings to find country-specific solutions in areas like road construction and efficient farming.
"The 53rd annual meetings of the African Development Bank will run through Friday, where participants will try to find ways to achieve Africa's own version of the 'Miracle on the Han River'.
Kim Hyesung, Arirang News, Busan.
South Korea plays host to the 53rd annual meeting of the African Development Bank.
Delegates from around the world gathered to discuss ways to help boost Africa's industrialization.
Kim Hyesung was at the opening ceremony held over in Busan.
"On behalf of the Korean government and the Korean people, I would like to welcome all of you to the 2018 annual meetings of the African Development Bank."
Over 4-thousand delegates from 80 countries, including government officials, business leaders, and officials from the African Development Bank and the World Bank gathered in Korea's southern port city of Busan to discuss the theme of "Accelerating Africa's Industrialization."
Right here in Korea, a country that has achieved remarkable economic development and that stands as an example to the rest of the world. The 'Miracle of the Han River' did not happen by chance, it happened through industrialization, pure and simple....Africa needs to industrialize and add value to everything it produces, from agriculture to minerals to oil to metals, everything."
Rich in natural resources, and with a young population, Africa is one of the fastest growing regions in the world, with the World Bank forecasting Africa to post solid growth of over three percent over the next couple of years.
But around 70 percent of Africa's total exports are raw materials, which are vulnerable to changes in global commodity prices.
To make a transition from simple goods to value added goods along the global supply chain and lift Africa's GDP per capita, the African Development Bank plans to invest 35 billion dollars over the next 10 years on industrialization.
The Bank says South Korea's experience in industrialization in infrastructure and manufacturing is a good model of development, and that the two are set to cooperate further in technology and knowledge sharing programs.
South Korea has also pledged to invest five billion dollars in Africa by 2020.
On the sidelines of the panel sessions, South Korean and African companies are holding one-on-one business meetings to find country-specific solutions in areas like road construction and efficient farming.
"The 53rd annual meetings of the African Development Bank will run through Friday, where participants will try to find ways to achieve Africa's own version of the 'Miracle on the Han River'.
Kim Hyesung, Arirang News, Busan.