The 2nd African Trade Forum was held in Ethiopia under the theme of ‘“build on the political expression of support for the continental trade agenda and mobilize broad-based support for actualizing this vision.”
Agriculture and natural resources are significant points of departure in constructing regional value chains and proper management according to Carlos Lopes, Under Secretary-General and Executive Secretary of the UNECA.
The forum concentrated on boosting intra-African trade and means of establishing Continental Free Trade Area agreements to develop the continents capacity for production and enhance industrial performance.
Participants noted that a CFTA will need to be pursued by governments with the participation of all stakeholders from the private sector, civil societies and development partners.Trade can be used as means of increasing the current growth rates in the continent with the European Union and the Association of Southeast Asian Nations serving as a prime example of the importance of intra regional trade for developing regional value chains said Lopez.
The issues of identifying potential hindrances and establishing the role of all stakeholders in the continental trade agenda were raised at the forum. Discussions also included how to overcome continental vulnerabilities efforts to make use of un-exploited resources, developing the middle class and adapting to global trends.
Africa is not just about vulnerabilities but has significant untapped resources that will serve to boost intra trade and the creation of regional value chains.
Source: Capital
