Gibson Nyikadzino
Zimpapers Politics Hub
AFRICAN union member states should swiftly remove barriers inhibiting the smooth facilitation of continental trade which restrain small and medium-sized enterprises from increasing investment in innovation and production to expand intra-African trade, the continental body has said in a statement.
In a statement at the conclusion of the 8th AU Mid-Year Coordination Meeting on Africa’s commitment to continental integration and Agenda 2063 yesterday in El-Alamein, Egypt, the regional body placed emphasis on advancing the African Continental Free Trade Area (AfCFTA) as a key driver of economic integration and sustainable development.
“The meeting welcomed progress in advancing preferential trade arrangements and called for further efforts to remove unjustified and unnecessary non-tariff barriers, improve trade facilitation, strengthen cross-border payment systems and promote regional value chains.
“It also encouraged African enterprises, including small and medium-sized enterprises, to increase investment in innovation, production and value addition in order to expand intra-African trade,” the statement said.
The bloc called also indicated that to unlock the full potential of the AfCFTA, there should be stronger productive and manufacturing capacity that is supported with improved infrastructure.
Currently, 50 signatories to the AfCFTA have deposited their instruments for the agreement’s ratification, including Zimbabwe, while out of 55 AU member countries, only Eritrea is yet to sign the trade agreement.
“Stronger productive and manufacturing capacity, increased investment, technology transfer, improved infrastructure and greater intra-African trade unlock the full potential of the Africa Continental Free Trade Area (AfCFTA).
“The continent’s substantial natural resources, human capital and growing markets should be leveraged to strengthen African value chains, promote industrialisation, facilitate technology transfer, create employment and increase the capacity of member states to add value to their resources within the continent,” the statement added.
Current AU Chairperson and Burundi’s President Evariste Ndayishimiye also identified inadequate productive capacity, infrastructure deficits, insufficient financing, challenges related to shared water resources, insecurity and conflicts as major obstacles to Africa’s integration efforts.
Chairperson of the AU Commission Mr Mahmoud Ali Youssouf emphasised the need for member states to translate continental commitments into tangible results for African citizens.
“Africa’s integration agenda must move decisively from aspiration to implementation,” Mr Youssouf said.
The meeting brought together representatives of the AU, chairpersons of the eight Regional Economic Communities (RECs), and the Regional Mechanisms (RMs) to reviews ways to achieve Africa’s Agenda 2063 mission.
