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Era of sustainable globalisation and exchange-based trade just beginning- MD LADOL

EU Commissioner for Trade, European Parliament,
Ellen Cecilia Malmstroem; Chief US Economist and Managing Director Morgan
Stanley, Ellen Zentner; Managing Director/Chief Economist Asia-Pacific Vanguard
Investment Strategy Group, Dr. Qian Wang; Managing Director of LADOL, Dr. Amy
Jadesimi; Chief Strategy Policy Analyst to the Secretary-General and Chairman
of the Military Committee NATO, Dr. Stefanie Babst, and the moderator/ Chief
Correspondent Deutsche Welle TV, Melinda Crane at the opening high level panel
of the Global Female Leaders Summit 2019, an
Economic Forum for Female Executives in Berlin.

The Managing Director of LADOL Free Zone, Dr. Amy
Jadesimi was one of the five global leaders who spoke on the opening panel of
the ongoing Global Female Leaders Summit 2019 (GFL) in Berlin.

GFL is an Economic Forum for Female Executives that is currently holding
for the 6th time.

Speaking in broader teams Dr. Amy explained that the
continent of Africa has broadly experienced 4 different ages of globalization:
Exploration, Exploitation, Expropriation, and Exchange.

“The Era of Exchange based Globalisation and trade is
just beginning. To succeed it requires trade between equals, i.e. a level
playing field through which all participants, from nation states to private
companies, benefit.”

“For Exchange based Trade to be practically applicable
countries and companies in Africa need to invest in and develop higher local
capacity and quality within sustainable business models. This is already
happening at companies such as LADOL and will lead to a significant increase in
the global GDP, as well as decreases in inequality and increases prosperity,”
she said.

In addition, Dr. Jadesimi stated that Sustainable
Globalisation requires the World Trade Organisation (WTO) and high income, low
growth countries to recognise that current trade policies were not designed to
lead to equality and prosperity for all.

“Now it is clear that our survival on this planet depends on our ability
to decrease poverty and increase both the spread and size of global wealth
dramatically. Therefore, institutions such as WTO need to promote and execute
new policies for global trade.

“For example, rather than simply demand that countries
immediately put in place new laws to protect Intellectual Property (IP) before
wealthy countries will trade with them.

“The focus should shift to insisting that low income high growth
countries develop home-grown IP to support their own market to a level that
makes them globally competitive and therefore better trading partners. Such
countries will then naturally put in place laws to protect this “home-grown”
and international IP, while also adding to global prosperity, creating
thousands of jobs and new innovations that will move the whole world forward.”

“Zero sum game politics and trade policies are leading
to global instability – collaboration is required on a fundamental level,
particularly between governments and institutions to create new economy,
sustainable technologies and business strategies.”

Without radical reforms, Dr. Jadesimi commented that
the current global trade practices would further entrench a status quo that is
undermining previous gains made through trade for high income countries. As
well as increasing inequality across the world and making it harder for
countries in Africa to lift their people out of poverty.

“The Nigerian government has taken real steps to
support the indigenous private sector in Nigeria and allow it to operate, add
value and grow – when our private sector is the same size as the public sector
Nigeria we will be part of the G20.”

“Many positive lessons can be learnt from the
formation and positive impact of the EU on its member states, including the
fact that the EU protected its markets from non-EU countries until it had
reached a certain level of industrialisation.

“AU is potentially one of the most important institutions we have to
develop Africa, as long as look inward and develop African capacity for
engineering, manufacturing and trading within the AU,” she said.

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