Africans told to exploit AfCFTA’s full potential to boost trade
By Isaac AIDOO, Accra
Secretary General of the Secretariat of the African Continental Free Trade Area (AfCFTA) Mr Wamkele Mene has called on Africans to exploit the potential that lies within their countries to boost trade, spur economic growth, alleviate poverty and generate employment opportunities.
According to him, the AfCFTA represents the most promising pathway towards prosperity for African countries.
To fully tap into its full potential, Mr Mene said it is imperative for African countries to place a high priority on manufacturing, transforming Africa’s free trade area into a hub of industrial activity.
Mr Mene who was speaking at the launch of the South Africa Guided Trade Initiative (GTI) under the AfCFTA in South Africa.
He noted that, the development of regional value chains and the expansion of light manufacturing presented tremendous opportunities to support industrialization, diversify exports, and create numerous job opportunities.
By seizing these opportunities, African countries had set themselves on a path of sustained economic progress, Mr Mene stated.
He expressed the Secretariat’s full commitment to continue to build Africa’s trade network, saying “our primary focus is to empower African companies to fully capitalize on the opportunities that arise. By doing so, we aim to generate quality job opportunities for our people.”
The AfCFTA Secretariat was determined to collaborate closely with member states, Regional Economic Communities (RECs), and all stakeholders on the journey ahead.
“It is crucial that we harness the unique strengths of each country through cooperation, fostering economic integration, enhancing competitiveness, and promoting prosperity across the continent.
Given the vast opportunities presented by the AfCFTA, Africa had every reason to keep pushing boundaries in order to “expand intra-African trade, strengthen the resilience of our economies, and foster a sense of trust that cuts across national borders.”
Mr Mene described as encouraging the strong support and active involvement in the GTI.
According to him, the support shown reflects the determination to leverage the GTI as a key tool in “realizing our objectives under the AfCFTA, and demonstrates a recognition of the potential that this initiative holds for shaping the future of trade and development across our continent.”
He rallied, “let us stay the course. Let us remain resolute in our commitment to Africa’s continental economic integration.”
