Rédaction Africa Links 24 with lexpress
Published on 2024-03-26 02:45:00
| Yesterday’s meeting was an opportunity to highlight the collaboration between the State and the private sector for industrial and economic development. |
A meeting between Edgard Razafindravahy, Minister of Industrialization and Trade, and Francis Rabarijohn, the new President of the Group of Companies of Madagascar (GEM), was held yesterday.
A shared vision, shared between the State and the private sector. This is one of the highlights of the meeting that took place yesterday in Ambohidahy between Edgard Razafindravahy, Minister of Industrialization and Trade, and Francis Rabarijohn, the new President of the Group of Companies of Madagascar (GEM). The meeting is a logical continuation of the State’s aspirations to make the Group “a trusted ally” for the government and technical and financial partners.
Moreover, the President of the GEM stated that he would encourage members of his group to support the industrialization initiatives carried out by the State on several fronts. Starting with the ODOF program, as well as large industrial projects. With strategic production of sugar, or cement. The prospects for cooperation are vast. They are also materialized by the Pact on Industrialization between the State and the private sector.
The interaction between the State and the private sector is not limited to local initiatives but also extends to broader ambitions on the international level, notably the integration of Madagascar into the African Continental Free Trade Area (AfCFTA). Edgard Razafindravahy emphasized the interest for the private sector to join this economic space, which promises access to a market of 1.2 billion people and could increase Malagasy exports to Africa by 47%. This strategic orientation has already been the subject of several discussions, with the private sector actively exploring the benefits and implications of such membership.
Advantages
The advantages of integrating into the AfCFTA are manifold for Madagascar’s flagship products. Textiles, for example, are offered a prominent position, as well as other products such as essential oils with countries like Kenya, which can offer a potential export value of $15 million for Madagascar. The same goes for Morocco with a potential export value of $18 million for products such as shrimp, pepper, and cloves.
Itamara Randriamamonjy
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