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01:48
Global South nations should deepen ties, build up resources together: Nigerian economist
STORY: Global South nations should deepen ties, build up resources together: Nigerian economist
SHOOTING TIME: Oct. 31, 2024
DATELINE: Nov. 1, 2024
LENGTH: 00:01:48
LOCATION: Riyadh
CATEGORY: ECONOMY
SHOTLIST:
1. various shots of the Future Investment Initiative conference
2. SOUNDBITE (English): TONY ELUMELU, Chairperson of the United Bank for Africa
3. various shots of the Future Investment Initiative conference
4. various shots of the Future Investment Initiative conference
STORYLINE:
Countries from the Global South, especially their private sectors, should enhance bilateral relationships and work together to address common challenges and build up resources, a renowned Nigerian economist has said.
Tony Elumelu, chairperson of the United Bank for Africa, made such remarks in an interview with Xinhua in Riyadh on Wednesday at the 8th Future Investment Initiative conference.
SOUNDBITE (English): TONY ELUMELU, Chairperson of the United Bank for Africa"Let's start growing that bilateral relationship because we understand the risks in the developing world more than those who are not in the developing world."
Private sectors in developing countries should invest in their countries, regions and the entire Global South for the betterment and prosperity of all, he said.
As for the China-Africa relationship, Elumelu, calling it a sound one, urged the private sectors from both sides to "build that bridge stronger," so that "more Chinese businesses and African businesses can collaborate and cooperate and do more together for the betterment of our people."
Noting that Africa has a massive unemployment issue, the economist said investment from China, particularly in infrastructure, will help boost Africa's economic growth. "Infrastructure development is critical. In China, you got it. In Africa, we need it."
Apart from infrastructure, Elumelu said he also eyes future partnerships with Chinese companies in the energy sector, such as electricity, oil, and gas.
Xinhua News Agency correspondents reporting from Riyadh.
(XHTV)
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