Africa-Press – Namibia. THE implementation of the African Continental Free Trade Area (AfCFTA) agreement should be expedited, as the free trade zone would boost intra-African trade and accelerate industrialisation, the Economic Commission for Africa (ECA) acting executive secretary, Antonio Pedro, said yesterday.
A United Nations Economic Commission for Africa press release from Addis Ababa, Ethiopia states: “While the AfCFTA’s promise is high, that promise can be realised only if the agreement is implemented efficiently.”
Namibia, in collaboration with ECA and the United Nations system in Namibia, launched the country’s national strategy and implementation plan for the agreement, establishing the AfCFTA for the period 2022-2027 in November last year.
The agreement provides an opportunity for Namibia to increase its intra-African exports and enhance the country’s export-led manufacturing and services capabilities.
Pedro admitted that implementing the AfCFTA agreement and supporting African economies, particularly least developed countries (LDCs), was no small task.
He was speaking at the opening of the regional consultation on LDC5 for LDCs in Africa and Haiti, where he said the Doha Programme of Action for Least Developed Countries was timely for Africa whose economies have been impacted by the Covid pandemic and the Ukraine war.
The regional consultation on LDC5 for LDCs is taking stock of trade elements of the Doha Programme of Action for Least Developed Countries for the Decade 2022-2031.
The regional consultation is organised by the World Trade Organisation and United Nations Office of the High Representative for LDCs, in cooperation with the Enhanced Integrated Framework. Africa has 33 of the world’s 46 LDCs.
With the AfCFTA agreement in place, intra-African trade could be 34% higher in 2045 than without the AfCFTA in the same year. Hence, the effective implementation of the AfCFTA agreement will help Africa industrialise and diversify from energy and mining, said Pedro.
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