Ministers calls for bold action to drive Africa free trade – New Business Ethiopia

The potential for the African Continental Free Trade Area (AfCFTA) to become a powerful tool for driving industrialization, economic diversification and development has been highlighted at the start of the UN Economic Commission for Africa’s (ECA) Conference of Ministers in Addis Ababa (Ethiopia).

The 4-day event (11-15 May) aims to advance the ambitious initiative to form a regional common market which the ECA believes could boost intra-African trade from its current level of 16% to 52% by 2022.

Addressing the gathering, Vera Songwe, Executive Secretary of the ECA, stated that realizing the promise of the AfCFTA and its development goals required the continent to take ‘bold actions’ on many fronts. She told the 51st session of the Conference of Ministers: ‘Now we must seize the…

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