Germany’s Angela Merkel calls for more direct foreign investment to flow into Africa
HANGZHOU, CHINA (SEPTEMBER 5, 2016) (N24 POOL) – German Chancellor Angela Merkel said on Monday (September 5) that G20 countries are working on rules to improve conditions for investment in Africa and added she believed it was urgent for more direct foreign investment to flow to the continent.
Speaking at a news conference at the close of the G20 summit in the eastern Chinese city of Hangzhou, Merkel said there was ten times as much direct investment in the European Union as in Africa.
“What is urgently needed is that there is more direct investment in Africa,” she said. Merkel added that the G20 leaders had extensive talks about fighting climate change and trade issues. She said the WTO reported that protectionism was increasing around the world.