Address barriers hindering effective implementation of AfCFTA …African countries urged

 African governments must take decisive action to address the barriers hindering the effective im­plementation of the African Continental Free Trade Area (AfCFTA), former Ethiopian Prime Minister, Hailemariam Desalegn Boshe, has said.

Speaking at a public lecture in Accra on Tuesday, Mr Boshe, who chairs Trade Mark Africa (TMA), cited several significant challenges impeding the success of the AfCFTA.

 The challenges, he said, included financial limitations, insufficient infrastructure, and complicated trade regulations.

The lecture, themed: ‘Af­CFTA as a catalyst for agenda 2063: Seizing opportunities in a changing world,’ was organised by AfCFTA in collaboration with TMA to explore ways to boost intra-African trade and unlock economic growth across the continent.

As part of the programme, the AFCFTA Secretariat signed a Memorandum of Understand­ing to better collaborate with TMA to achieve the ideals of AFCFTA.

Mr Boshe noted that intra-Af­rican trade remained low at just 15 per cent of total African trade, compared to 50 per cent in Asia.

However, he said between 2017 and 2023, Africa’s total mer­chandise exports grew by 200 per cent, while intra-African trade increased by only 27 per cent.

“When AfCFTA was launched, it carried the hopes of 1.2 billion people coming togeth­er as one market, harnessing a $3 trillion economy, and a vision of an Africa trading with itself on its own terms,” Mr Boshe stated.

He cited infrastructure as a major bottleneck, explaining that goods often took weeks or even months to move across the conti­nent due to underdeveloped road networks and inefficient logistics.

To address this, Mr Boshe called for increased investment in transport corridors such as LAPSSET in East Africa, Abidjan-Lagos in West Africa, and the North-South Corridor in Southern Africa.

He also emphasised the need for public-private partnerships to finance infrastructure, modernise customs, and streamline trade facilitation.

On trade regulations, Mr Boshe indicated that the nature and implementation of rules sig­nificantly impact trade efficiency.

“The administration of regulations can either accelerate or obstruct trade, depending on how they are applied,” he said.

Mr Boshe, therefore, stressed the need for improved financial systems to support cross-border payments and trade financing.

The Secretary-General of the AfCFTA Secretariat, Mr Wamkele Mene, reaffirmed AfCFTA’s commitment to un­locking Africa’s trade potential. He noted that AfCFTA had partnered with TMA to acceler­ate trade implementation across the continent.

Mr Mene described AfCFTA as a transformative initiative aimed at creating a single-mar­ket to boost intra-African trade and economic growth.

BY KINGSLEY ASARE

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