The AfCFTA’s role in accelerating the implementation of the African Union’s Development Agenda 2063 was discussed at the third Intra-African Trade Fair (IATF2023).
Panellists emphasized the importance of political will in implementing AU Agenda 2063, with Egyptian Commercial Representation Service Head Yahya Al-Wathiq-Bellah emphasizing its widespread significance.
NEPAD CEO Nardos Bekele Thomas emphasized the importance of a conducive environment and governments’ commitment to honoring their commitments.
Kanayo Awani, Executive Vice President of Intra-African Trade Bank (IATB) at African Export-Import Bank (Afreximbank), highlighted the crucial role of financiers in safeguarding the African continent from supply chain disruptions.
She emphasized the need to reverse colonial trade routes, which were established without considering the African population, and stressed the need for collective effort.
Albert Muchanga, African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, announced upcoming projects to ensure regulatory harmonisation, including a ‘Made in Africa’ strategy.
He emphasized the necessity of involving the private sector in state-level negotiations.
“A time should come when our governments must say the private sector will be informed about the outcome of negotiations,” Muchanga said.
Afreximbank signed a memorandum of Understanding (MoU) with the AU at IATF2023, as part of efforts to drive AU’s Agenda 2063.
Prof. Benedict Oramah, President of Afreximbank, signed on behalf of the Bank, while Albert Muchanga, AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, represented the AU.
The MoU, in conjunction with Afreximbank and the African Union’s Second Ten Year Implementation Plan of Agenda 2063, marked a significant milestone for Africa.
The partnership aims to develop and deliver African solutions to African problems, aligning with the 2063 Agenda: The Africa We Want.