The African Union is planning to create a task force developing common policy for African governments on commodities.
It would also implement a continental strategy for making commodities a source for sustainable growth rather than price instability and dependence. The idea was debated at an AU commodities seminar, at its headquarters in Addis Ababa, Ethiopia.
It also heard and supported plans to create regional commodity exchanges aimed at “redressing some of the imbalances against Africa in the exiting international commodity markets”. Elizabeth Tankeu, AU commissioner for trade and industry, said “commodities (should) serve as effective instruments for the achievement of rapid and sustainable economic growth”.