Final answer:
African countries indeed recognize the importance of cross-border data flows, balancing economic growth with the protection of rights through various agreements and regional bodies like ECOWAS and the African Union. They work with international organizations to promote sustainable trade and economic growth. Multilateral cooperation and unrestricted capital flows are considered essential for successful trade and economic activity.
Step-by-step explanation:
The statement that African countries acknowledge the importance of cross-border data flows in an interconnected world is true. Efforts are being made to balance the economic growth stemming from such data flows with the protection of individual rights. Institutions like the Economic Community of West African States (ECOWAS) and the African Union have been established to foster regional cooperation, and the World Economic Forum collaborates with the African Continental Free Trade Area (AfCFTA) to enhance private-public partnerships and sustainable growth.
Nevertheless, the continent grapples with challenges such as political instability and a historical focus on trade with economically stronger non-African nations over regional cooperation. Today, the threat of fragmenting world trade emphasizes the need for multilateral cooperation, which is viewed as an effective tool for prosperity by most states and companies. The G-7 meeting in May 2023, for example, aimed to draw a roadmap to sustain a rules-based international order, promoting human security and sustainable growth in response to global trade crises.
Furthermore, international trade necessitates participation in international capital movements, as limiting capital flows while engaging in trade is nearly impossible. This recognition is critical for nations to facilitate trade and economic activity across their borders.