Gaborone, Nov 24 (IANS) It is important to capitalise on the African Continental Free Trade Area (AfCFTA) to boost intra-Africa trade and position the continent as a global economic force, President of Botswana Duma Boko said during an international conference.
Addressing delegates at the African Economic Conference, which is co-hosted by the African Development Bank (AfDB), the United Nations Economic Commission for Africa (ECA), and the United Nations Development Programme in Botswana’s capital city, Gaborone, Boko said that multilateral cooperation and economic integration into regional trading blocs are more important than ever.
“One of the most promising developments the world has ever seen is the AfCFTA, which is the largest single free trade area in the world,” he said.
Highlighting AfCFTA’s potential to reshape Africa’s economic landscape by encouraging investment, creating jobs and promoting industrialization, Boko said that regional cooperation must go beyond trade to include shared physical infrastructure, resource management and conflict resolution.
Claver Gatete, executive secretary of the ECA, said AfCFTA is the “crown jewel” of Africa’s economic integration efforts, calling for its expedited implementation.
He reiterated the need for free movement of people, products, and services for integration, citing Botswana’s visa-free policies, as well as those of Rwanda and Ghana, as examples of how they can remove barriers to greater intra-African collaboration, Xinhua news agency reported.
The three-day conference, held from November 23 to 25 under the theme “Securing Africa’s Economic Future Amidst Rising Uncertainty,” gathered together experts to propose measures to enhance African development.
–IANS
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