BUJUMBURA September 20th (ABP) – The Vice-President of the Republic of Burundi, Mr. Prosper Bazombanza, enhanced with his presence on Monday, September 19, 2022, at the Kigobe hemicycle, the opening ceremonies of the 9th meeting of the Association of Senates, Shoura and Equivalent Councils of Africa and the Arab World (ASSECAA) organized in Burundi under the themes “The effects and repercussions of the Covid-19 pandemic on the Arab-African economy and the response of governments to deal with it” and “the Russian-Ukrainian war and its repercussions on supply chains, energy and food prices”.
Delivering the opening speech of the said meeting on behalf of the President of the Republic of Burundi, the Vice-President of the Republic pointed out to the various delegations from Arab-African countries that this meeting aims to promote debate, dialogue and Afro-Arab dialogue on strategic and priority issues in the African and Arab regions, and better understand the repercussions caused by the Covid-19 pandemic, as well as the Russian-Ukrainian war and the consequences observed so far on the economies countries, supply chains, energy and food prices, without forgetting to propose solutions.
According to Mr. Bazombanza, that meeting also aims to put together a parliamentary economic diplomacy that will explore ways and means of strengthening Afro-Arab economic cooperation in a strategic, participatory, integrated and development perspective based on the strengthening of economic ties, commercial and humanitarian relations between Africa and the Arab world.
He went on to stress that this two-day meeting is an opportunity to share knowledge and experiences among parliamentarians through the presentation of good practices and lessons learned with a view to developing and mitigating the economic impacts of the Covid-19 and the repercussions of the Russian-Ukrainian war on the economies of African countries and the Arab world.
In his remarks, the President of the House of Councilors of the Kingdom of Morocco and President of ASSECAA, Mr. Annam Mayara, revealed that the consequences of the Covid-19 pandemic on Africa and the Arab world resulted in oil prices collapsing and global demand for it falling before it increased due to other factors.
Mr. Mayara added that the Covid-19 pandemic has also led to a slowdown in the growth of the economies of the countries of the two regions, due to its direct effects on the financial sector in general and on the Gross Domestic Product (GDP) in particular.
According to the World Bank, the Middle East and North Africa region suffered significant GDP losses estimated at around $200 billion in 2020, which damaged key sectors, especially energy, aviation, tourism, and many other sectors, he pointed out.
The war on Ukraine is causing what is known as global “stagflation,” combining high inflation and economic stagnation. Indeed, it was accompanied by a rapid and sharp rise in inflation under the pressure of rising food, energy and main raw material prices, concluded presenter Aloys Batungwanayo, who presentation on the theme “From the Covid-19 pandemic to the war in Ukraine: a global shock”.