WTO Chief Advocates Local Processing of Mining Products to Boost Africa’s Economic Value
On Tuesday, September 12, 2024, World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala urged Africa to process its strategic mining products locally instead of exporting them raw.
In a media briefing, she emphasized the need for an integrated approach to develop full value chains on the continent, particularly in resource-rich countries like the DRC.
“Why continue to export raw materials?” Okonjo-Iweala questioned. “We should process these critical minerals locally, in partnership with neighboring countries such as Zambia, to create jobs and increase value addition in the region.”
She highlighted Africa’s potential in producing electric vehicle batteries by harnessing its lithium, cobalt, and other strategic minerals.
Okonjo-Iweala termed this strategy as “reglobalization,” aiming to better integrate African economies into global value chains while fostering local benefits.
“Africa accounts for only 3% of global trade, and this needs to change,” she said, advocating for a rethinking of global trade models to more effectively involve developing countries in industrial value creation.
