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The Africa World Trade Network (AWTN) has partnered with the African Continental Free Trade Area (AfCFTA) Secretariat to accelerate intra-regional trade and investment through exhibitions, meetings and events .
The partnership aims to mobilize private sector actors across Africa to advance the achievement of the strategic objectives that underpin the African Continental Free Trade Area Agreement.
The partnership between the AWTN and the AfCFTA Secretariat aims to achieve three common objectives that support continental trade and investment promotion across Africa and advance the overall objectives of the Continental Free Trade Area Agreement in Africa :
Co-organize and host forums that support the promotion of continental trade and investment in Africa and promote the overall objectives of the AfCFTA Agreement
Support the growth and development of the African business community; and
Collaborate on issues of common interest, in the pursuit of improving intra-continental trade
Speaking at the signing ceremony, AWTN Chairman of the Board Otwasuom Osae Nyampong VI said: This is a second Pan-African victory after independence. AWTN, for its part, has recognized this watershed moment and will act as a catalyst to boost trade relations between member states and businesses across the continent. ”
Otwasuom Osae Nyampong VI stressed: “As the Secretariat of AfCFTA, AWTN is headquartered in Accra, which has been recognized as a beacon for transformative development in the sub-region. In this partnership, AWTN is committed to launching and scaling up innovative programs to mobilize investment opportunities that will enhance sustainable trade across Africa as envisioned by the AfCFTA.
For his part, His Excellency Wamkele Mene – Secretary General of the AfCFTA Secretariat, reiterated his commitment to ensure that the AfCFTA is effectively implemented in a way that ensures shared and inclusive economic growth. He stressed that “after many years of talks and negotiations, we are now focusing on the deployment of AfCFTA across the continent”, and identified young Africans and women in commerce as segments of society. who are to benefit from the implementation of the Agreement. Secretary-General Mene added that “the time has come for Africa, and thanks to the AfCFTA we have a unique opportunity to turn a new leaf on Africa’s trajectory of economic development and growth”.
His Excellency Wamkele Mene further expressed the need to improve engagement platforms between the public and private sectors. He stressed that “It is for this reason that partnerships like this one between the private sector, government and development institutions are needed to help collaborate and find solutions to our daily challenges.”
About AfCFTA and the Secretariat
The Secretariat of the African Continental Free Trade Area (AfCFTA) is the only supranational organization on the continent, legally established and mandated to manage the rules of trade between African countries. At the heart is the implementation of the Agreement Establishing the AfCFTA, negotiated, signed and ratified by the States Parties.
The AfCFTA operates a continental system of trade rules, it serves as a platform for negotiating trade protocols, it facilitates the settlement of disputes between state parties, and it monitors the implementation of the AfCFTA Agreement.
The Agreement establishing the AfCFTA was signed during the 10th extraordinary session of the Assembly of Heads of State and Government of the African Union in Kigali – Rwanda in March 2018. With 55 countries, the AfCFTA will be the largest zone in terms of membership, covering a market of 1.3 billion people with a combined gross domestic product (GDP) of $ 3.4 trillion (2020).
The AfCFTA Agreement entered into force on May 30, 2019 – 30 days after the deposit of the twenty-second (22nd) instrument of ratification with the Chairperson of the African Union Commission – the depositary designated for this purpose.
To date, fifty-four (54) of the fifty-five (55) countries have signed the Agreement Establishing the AfCFTA and thirty-seven (37) countries are States Parties by virtue of the deposit of their instruments of ratification of the OK.
Trade under the AfCFTA began on January 1, 2021 in accordance with the decisions of the 13th Extraordinary Session of the Assembly of Heads of State and Government of the African Union which was held virtually in December 2020
Source: Peacefmonline.com
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