The first-ever Africa Trade Week opened Monday in Addis Ababa, 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.
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