Africa-Press – Botswana. President Dr Mokgweetsi Masisi has underscored the need for trading rules to remain advantageous and non-discriminatory to all WTO members.
“Botswana and Africa as a whole implores you as WTO to facilitate fair trade that will allow all of us to participate fully in the global economy,” he said in a WTO lecture.
Addressing the topic: What Africa expects from the WTO, President Masisi said trade had the potential to improve living standards if carried out in a manner that ensured that developing and least developed countries were able to develop economically.
Dr Masisi, who became the first African head of state to participate in the newly-established WTO presidential lecture series, said most African economies suffered the devastating effects of the COVID-19 pandemic, which hindered the continent’s economic development.
The least developing countries therefore required careful consideration within the WTO framework, he said. President Masisi implored WTO to support African countries in their efforts to create a seamless trading system within the continent, as well as promoting trade between Africa and the rest of the world.
He said the support should include promoting sustainable development practices and ensuring that trade agreements did not have negative impacts on the environment.
“Moreover, Agenda 2063, Africa’s development blueprint, outlines the need for sustainable development and the eradication of poverty and inequality. As such, we expect the WTO to support these goals and ensure that trade benefits everyone, not just a select few,” said Dr Masisi.
Urging WTO to work towards creating a more inclusive trading system that ensured all members of society benefitted from opportunities provided by trade, he said Africa expected WTO to continue its gender equality and social inclusion in the global trading system promotion efforts.
“Women and marginalised groups often face significant barriers to accessing trade opportunities and this has negative impacts on their economic empowerment and wellbeing,” he said.
On the issue of regional integration, President Masisi said Africa had made significant progress with the adoption of the African Continental Free Trade Area (AfCFTA).
He said AfCFTA’s objective was to significantly boost intra-Africa trade, particularly trade in value-added production and trade across all sectors of Africa’s economy.
Dr Masisi said in addition to regional integration, Africa was also focused on industrialisation and economic diversification which were critical for its development.
He emphasised the need to move beyond being solely dependent on the exportation of raw materials and instead develop value-added industries.
Now in its second year, the series provides a platform for high profile speakers from around the world to deliver lectures on various aspects of multilateral cooperation and global governance, sustainable development goals, as well as trade related matters.
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