First-ever Africa Trade Week underway this week in Ethiopia
Among the main topics is the Continental Free Trade Area (CFTA), which seeks to join the 54 African nations into one trade union.
The bold initiative aims to create a single market among the nations of the continent, with free movement of people, goods and services. The CFTA also seeks to expand intra-African and international trade.
“(Topics) include Africa’s trade relations with Asia, Europe, the United States and emerging markets; how trade can support gender equality and empowerment; perspectives from the regional economic communities and the CFTA negotiations and related flanking measures,” United Nations Economic Commission for Africa acting Executive Secretary David Luke said.
The implementation of CFTA provides opportunities for development within the member countries, as well as opportunities for enhancing trade relationships with Asia, Europe and the U.S.
Also on the agenda is the election of Donald Trump as the new U.S. president and how his election and policies may affect global trade and existing trade agreements with African nations.
“Africa Trade Week is a historic event, and the whole purpose of this week is to encourage fruitful and stimulating dialogue among all stakeholders,” African Union Commissioner Fatima Haram Acyl said.
Participants in Africa Trade Week include CEOs, education professionals, government officials, development banks and the media.