ADDIS ABABA, Ethiopia, December 3, 2015/APO (African Press Organization)/ —
The Continental Consultative meeting for the review of the Pan African Investment Code (PAIC) Came to an end on the 2nd of December 2015 with consensus among the member states after critical analysis on the Pan African Investment Code (PAIC)
In his closing statement, Dr. Rene N’guettia Kouassi, Director for Economic Affairs African Union Commission (AUC), immensely thanked the host country, the experts and all AUC staff for their patience and efforts towards the adoption of the Pan African Investment Code (PAIC). The philosophy of the AUC is for all African countries to work together for a sustainable and reliant continent. He reiterated to all member states present that the development of Africa is our duty before we seek other external investors.
The director urged all members that their valued contributions will be drafted and presented to the decision organ of the AUC to be presented to the Head of states and government during the summit.
Member states were all pleased and thanked the AUC, the host country and the Legal consultant for their expertise during the three day deliberations and urged the Commission that their will convey back to their individual countries the feedback of the meeting.
Mrs. Samalie Mukyala, Senior Investment Executive, Kampala, Uganda, thanked the AUC for hosting the PAIC meeting in Uganda and she was very pleased by the cooperation by all member states. She wished all members safe trip back to their countries.
About the Pan African Investment Code
The Commission of the African Union (AUC) was mandated during the third Conference of African Ministers in charge of Integration (COMAI III) held in Abidjan, Côte d’Ivoire, on 22-23 May 2008, “to develop a comprehensive investment Code for Africa with a view to promoting private sector participation”. The AUC was also requested by the Ninth Meeting of AU-RECs-ECA-AfDB Coordination Committee, held on 25 January 2012, in Addis-Ababa, Ethiopia “to carry out a study with a view to establishing a Pan-African Investment Code
