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The implementation of the African Continental Free Trade Area (AfCFTA) is an ongoing and complex process that demands patience, strategic planning, and political commitment, according to Riyad Mezzour, Chair of the Bureau of African Ministers of Finance and Economic Planning.
Speaking at a press conference following the fifty-seventh session of the Economic Commission for Africa (ECA) Conference of African Ministers of Finance, Planning, and Economic Development, held in Addis Ababa, Mezzour emphasized the need for transformative actions to strengthen AfCFTA implementation.
Under the theme “Advancing the Implementation of the Agreement Establishing the African Continental Free Trade Area: Proposing Transformative Strategic Actions,” the conference underscored the importance of activating regional value chains to boost economic integration and eliminate trade barriers hindering intra-African commerce.
Mezzour, who also served as Morocco’s Minister of Industry and Trade, highlighted key focus areas, including the role of digitalization in Africa’s economic transformation, investments in digital infrastructure, and efforts to empower African youth through enhanced education, training, and entrepreneurship.
He further stressed the necessity of incorporating climate change considerations into sustainable trade policies.
“Achieving these objectives requires strong political will and effective decision-making to foster collaboration among member states,” Mezzour stated, adding that coherent policies and careful negotiation are essential to AfCFTA’s success.
ECA Executive Secretary, Claver Gatete, noted that the shifting global landscape, characterized by declining foreign investment and aid, makes it imperative for Africa to prioritize intra-continental trade and investment.
“By strengthening trade relationships and investing in one another, African nations can enhance economic resilience, stimulate growth, and create a more self-sufficient regional economy,” Gatete said.
He disclosed that the ECA was working closely with African nations to develop tailored national strategies that will enable them to maximize AfCFTA benefits.
Gatete stated that by leveraging their unique strengths and competitive advantages, countries can position themselves effectively in both regional and global markets.
Zimbabwe’s Finance Minister, Professor Nthuli Ncube, underscored the urgent need for Africa to establish its own credit rating agency.
He argued that an independent African credit rating system would help prevent the undervaluation of African economies in global financial markets, thereby improving access to investment and supporting the AfCFTA.
As African nations push forward with AfCFTA implementation, ministers agreed that strategic, well-coordinated actions were necessary to ensure sustainable growth, economic integration, and long-term development for the continent.
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