AfCFTA to reduce dependence on Western markets


AfDB Group secretary general, Vincent Nmehielle

from MARIA MACHARIA in Nairobi, Kenya
Kenya Bureau
NAIROBI, (CAJ News) – INCREASING continental trade among Africans will reduce the continent’s dependence on traditional Western markets for business, a senior African Development Bank (AfDB) official has said.

AfDB Group secretary general, Vincent Nmehielle, said liberalising trade across Africa by removing import duties on goods produced within the continent would boost intra-African commerce, benefiting small businesses.

Nmehielle was speaking at the official opening of the African Continental Free Trade Area (AfCFTA) summit in Nairobi, Kenya on Monday pointing out the more trade and free movement of African people the more jobs are also created in member states.

“More trade among African countries will also help the continent diversify its export basket, thereby creating more jobs and employment opportunities,” Nmehielle said.

Speaking at the same event was chief executive officer of the East African Business Council, John Bosco Kalisa, who said his organisation was busy educating small and women-owned enterprises on the procedures for trading under the AfCFTA regime.

He however noted that Africa’s exports to Europe, Asia or America are predominantly unprocessed minerals and agricultural commodities.

Kalisa challenged the AfCFTA businesses to add more value to their products and services within the continent.

– CAJ News

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