Featured

The recent Africa Trade Forum, held in Lagos, Nigeria, focused on refining the process for realising the African Continental Free Trade Area (AfCFTA). Hosted by Nigeria’s Ministry of Industry, Trade and Investment, and co-organised by the United Nations Economic Commission for Africa (ECA), The Rockefeller Foundation, and the African Union Commission (AUC), the Forum saw representatives from across the continent attending.

Africa Trade Forum furthers AfCFTA agenda

AfCFTA was signed in March 2018 by 44 African countries and, if ratified, will become one of the world’s largest trading blocs. It is also the biggest trade agreement signed since the World Trade Organisation (WTO) was established, bringing together 1.3 billion people with a combined gross domestic product (GDP) of more than $2 trillion in a single market. The agreement aims to provide improved competition and lower business costs.

The Forum’s purpose was to look into the challenges and opportunities of the AfCFTA in individual African states, and to better understand how AfCFTA can drive economic development and prosperity on the continent for all of Africa’s citizens. The event also provided a platform to discuss Africa’s participation and ownership of the AfCFTA objectives and examine how intra-regional trade can enable prosperity in Africa.

Economic Commission for Africa (ECA) Executive Secretary Vera Songwe says in an age of trade wars, Africa is sending a strong message that trade deals and reforms can be approached through consensus-building and co-operation, leaving no one behind. “In order to ensure the African Continental Free Trade Area has a game-changing impact on African economies, we must now develop clear strategies for product diversification and inclusive implementation. The speed at which countries have signed and are now ratifying the AfCFTA agreement underscores the momentum behind this African flagship initiative,” she said.

According to ECA studies, Africa is less industrialised today than it was three decades ago. The continent’s manufacturing share of output and exports has steadily declined, and Africa’s exports remain largely concentrated in primary commodities and raw materials. Through AfCFTA, industrialisation will help create employment for Africa’s growing population.

The agreement is also expected to lead to booming multi-sectoral growth in areas including agriculture, where the AfCFTA will provide opportunities to drive agri-business and provide access to new regional markets for farmers and regional agro-value chains. The AfCFTA will also help establish an integrated set of platforms and partnerships to drive regional power systems, accelerate energy access for productive use, and bring down the costs of Africa’s power generation.

“The AfCFTA is critical for Africa’s economic competitiveness and development. Once the African Continental Free Trade Area starts to fully function, African enterprises will be exposed to large economies of scale and scope. With expanded production and competitiveness, as well as increased investment, our enterprises will be able to increase Africa’s share of global trade, creating opportunities for economic development as well as the prosperity of African countries,” said the Africa Union Commission.

Image credit: https://www.uneca.org/executive-secretary

Magazines

African Fusion

AfricanFusionAfrican Fusion, the official publication of the Southern African Institute of Welding (SAIW), aims to provide up-to-date insight into welding technology and the welding industry.

Capital Equipment News

Capital Equipment News is dedicated to the application of equipment and modes of transport that are used in the mining, construction, quarrying, and transport industries.

Construction World

ConstructionWorldConstruction World was first published in 1982 and has grown to become a leader in its field, offering a unique mix of editorial coverage to satisfy the diverse needs of its readers.

Electricity + Control

ElectricityandControlE + C publishes innovative, technical articles that provide solutions to engineering challenges in measurement, automation, control, and energy management.

Lighting in Design

LightingandDesignLighting in Design is a glossy, upmarket publication aimed at lighting professionals. It is the only B2B magazine in SA that is dedicated solely to the subject of lighting.

MechChem Africa

MechChemJanuary2017cover MechChem Africa supports African engineering and technical managers across the full spectrum of chemical and mechanical disciplines.

Modern Mining

ModernMiningEstablished in 2005, Modern Mining is one of SA's leading monthly mining magazines, noted for the quality and accuracy of its writing and the breadth of its coverage.

Modern Quarrying

ModernQuarryingModern Quarrying is firmly entrenched as a leading industry-specific magazine. It focuses on promoting the science and practice of quarrying and processing in southern Africa.

Sparks Electrical News

SparksElectricalNewsReadable and informative, Sparks Electrical News is the newspaper for those involved in installing and maintaining electrical supplies and equipment.

 
Full Name*
Invalid Input

Company Name*
Invalid Input

Your Email*
Invalid Input

Phone*
Invalid Input

Postal Address 1*
Invalid Input

Postal Address 2*
Invalid Input

Postal Code*
Invalid Input

Street Address 1
Invalid Input

Street Address 2
Invalid Input

Postal Code
Invalid Input

Town / City*
Invalid Input

Country*
Invalid Input

Magazine

Invalid Input

Invalid Input