Spain notices Africa's economic potential together with emerging countries entry as trading partners

Africa will grow about 3.7% by the end of 2011, despite the global crisis and the changes in the economy caused by political instability and the revolutions in the northern part of the continent and the rise in crude oil. It is in fact a trend that will continue in 2012 when it is forecast there will be a 5.8% growth. This is the main conclusion of the African Economic Outlook 2011 report. Created by the   African Development Bank (BAfD), the Development Centre of the Organization for Economic Cooperation and Development (OECD), the United Nations - through their Economic Commission for Africa (UNECA) and their Development Programme (PNUD) -, and a network of research centres and groups of African experts.

Faced with this prospect, and with the change occurring due to the entry of emerging countries as new trading partners in the continent, Spanish businessmen are already aware that there are an enormous amount of opportunities in Africa, a continent whose development is linked to the push achieved from the private sector. This is how Jesús Banegas, the president of the Commission for International Relations of CEOE argued it, during this morning’s act for the presentation of this report at CEOE headquarters.

The African Economic Outlook is published annually and includes recent developments of African countries in economic, political and social terms, together with their short term projections. As well as Banegas, the Spanish advisor to BAfD and representative to the Ministry of Economy and Finance, Manuel Delacampagne also presented the report; together with  the subdirector general  of Commercial Trade with Mediterranean countries, Africa and the Middle East from the Minisitry of Foreign Trade, Enrique Feas, and Casa África's director general, Ricardo Martínez.

Download the  executive summary report African Economic Outlook 2011