African Continental Free Trade Area (AfCFTA) strengthen by IATF 2021

Growing trade opportunities are emerging across all the African continent in light of the African Continental Free Trade Area (AfCFTA). The African business community meeting in South Africa express support and enthusiasm toward the new Free Trade Area.

The second Intra-African Trade Fair (IATF 2021) has ended on Sunday in Durban, KwaZulu-Natal, South Africa, with a collective commitment to ensure that the economic stimulation triggered by the event translates into the continued strengthening of the African Continental Free Trade Area (AfCFTA).

“Not a single Country in Africa will be able to compete globally alone, hence African Countries must just integrate the market, something that has been evaded Africa from 1963, when our forefathers hatched African Unity,” said Mr H.E Wamkele Mene, Secretary General of the AfCFTA Secretariat.

“We will overcome the challenges we experienced with IATF 2021 and leverage the progress of the AfCFTA over the coming two years to make IATF 2023 an even more resounding success,” said rof. Benedict Oramah, President of Afreximbank.

Responding to a question about the free movement of people across the continent, H.E Ambassador Albert Muchanga, AU Commissioner for Economic Development, Trade, Industry and Mining, told the press conference that the work of the AfCFTA would be further strengthened by the ratification of the African Union protocol on free movement of persons in Africa, which still needed eleven signatories in order to be passed. “Once the protocol is ratified, there will then be visa-free movement of people, and ultimately, the mainstream introduction of the African passport,” he said.

Speaking on behalf of the Premier of KwaZulu-Natal, the MEC for Economic Development, Tourism and Environmental Affairs, Hon. Ravi Pillay underscored the need for the prioritisation of Africa’s industrialisation process. “It is important that we trade in products we have made – how can we be proud to trade in goods that were made elsewhere?” he said. On the topic of Africa’s willingness to adjust, Mr. Pillay said that the IATF 2021 had been a great demonstration of the combined political will towards supporting the AfCFTA. He expressed the province’s gratitude for the privilege of hosting the IATF 2021.

For support in making the most out of the African Continental Free Trade Area (AfCFTA), get in touch:

Leave a Reply Cancel reply