"Certainly, Africa accounts for only l % of world trade, and we cannot assure our development on our own"

This quote by Omar Bongo, the former President of Gabon, highlights the reasonably minor role that Africa plays in international trade and highlights the obstacles the continent faces in accomplishing economic development individually. The statement highlights two main issues: Africa's limited position in world trade and the difficulties in self-reliant advancement.

To start with, by specifying that "Africa accounts for just 1% of world trade", Bongo mentions the continent's very little share in the international trading system. This statistic is a sign of the more comprehensive financial difficulties Africa faces, such as underdeveloped infrastructure, restricted industrialization, and reliance on the export of basic materials. These factors contribute to the continent's minimal combination into the worldwide economy. The low portion suggests that Africa is not yet totally taking advantage of its capacity in global markets. This could be due to a mix of historic, structural, and financial factors that have actually prevented its development and development.

Secondly, the phrase "we can not guarantee our development on our own" suggests that Africa's path to development might need external help and collaborations. This could suggest interesting in international trade, attracting foreign direct financial investment, and fostering cooperation with other nations and international companies. Bongo's declaration acknowledges the restrictions of relying exclusively on internal resources and efforts, consequently stressing the significance of international partnership to get rid of structural obstacles.

In addition, this declaration invites reflection on the need for policy reforms, financial investment in education, innovation, and infrastructure, and the promotion of intra-African trade to foster economic growth. A more integrated African economy could assist enhance its standing in international trade, enabling a more significant role in worldwide markets.

In conclusion, Bongo's quote highlights Africa's challenges in international trade and development, pointing to the need for both internal reforms and external partnerships. This understanding is essential for charting a path toward sustainable economic advancement for the continent.