Welcoming Remarks for H.E. Semereta Sewasew, State Minister of Finance
On
Economic Commission for Africa Committee of Experts of the Conference of African Ministers of Finance, Planning and Economic Development
12 March 2025, ECA, Addis Ababa
Antonio Pedro, Deputy Executive Secretary of Economic Commission for Africa,
Distinguished Representatives of Member States, Partners, Ladies, and Gentlemen,
It is with great honor and privilege that I welcome you all to Addis Ababa for the 43rd meeting of the Committee of Experts of the Conference of African Ministers. On behalf of the Government of the Federal Democratic Republic of Ethiopia, we are deeply delighted to host this crucial gathering, which sets the stage for meaningful discussions and impactful decisions at the Ministerial segment.
This year’s theme, “Advancing the Implementation of the Agreement Establishing the African Continental Free Trade Area: Proposing Transformative Strategic Action,” captures the urgency
and significance of our shared mission to realize the full potential of the agreement.
The African Continental Free Trade Area is not merely a legal framework but a bold and transformative step toward deepening Africa’s economic integration. By facilitating intra-African trade, harmonizing policies, and removing barriers, the agreement serves as a powerful tool to unlock the economic potential of our continent. The anticipated outcomes such as enhanced industrialization, job creation, and poverty reduction are integral to achieving the aspirations of Agenda 2063, Africa’s blueprint for inclusive and sustainable development.
Indeed, we recognize that the road to realizing these ambitions is not without its challenges. Infrastructure gaps, fragmented policies, financing constraints, and disparities in capacity across member states require concerted and innovative solutions. Equally important is ensuring the inclusivity of this transformative agenda, particularly for women, youth, and small and medium enterprises, who form the backbone of Africa’s economies.
The deliberations of this Committee of Experts are critical in addressing these challenges. Your ability to propose strategic, actionable recommendations will ensure that the AfCFTA becomes a tool of tangible progress rather than mere aspiration. This requires harnessing research, leveraging partnerships, and fostering collaboration across sectors and regions.
Excellencies. Ladies and Gentlemen,
The AfCFTA is not merely a trade agreement; it is a bold statement of Africa’s collective vision for economic independence, shared prosperity, and deeper regional integration. By creating the world’s largest free trade area, encompassing 55 countries and over 1.3 billion people, we are laying the foundation for a new era of growth and opportunity.
The signing and ongoing implementation of the Agreement Establishing the African Continental Free Trade Area marks a major milestone in Africa’s journey toward economic integration. However, according to ECA’s report on regional integration in 2024, progress remains slow, with intra-African trade still accounting for only 14.4% of total trade on the continent. This figure pales in comparison to other regions, such as Europe or Asia, where intra-regional trade is a key driver of prosperity. This disparity is not due to a lack of potential, but rather to barriers that hinder our businesses, entrepreneurs, and industries from thriving in a unified market. With the AfCFTA, we have an unprecedented opportunity to address these barriers and unlock the full potential of African trade.
To fully harness the potential of this agreement, robust infrastructure development is essential, yet financing challenges persist. Likewise, critical sectors such as education and health require significant investment to strengthen human capital. Additionally, ongoing conflicts, violent extremism, and restrictions on the free movement of people continue to hinder Africa’s vision of a fully integrated and prosperous continent.
However, signing an agreement is only the beginning. Implementation is where the true work lies, and it requires collective effort, collaboration, and commitment. We must invest in infrastructure to connect our countries more efficiently. We must
harmonize our trade policies, customs procedures, and regulatory frameworks to ensure seamless transactions. Above all, we must empower our entrepreneurs, particularly our small and medium- sized enterprises, which are the lifeblood of our economies.
Excellencies, ladies and gentlemen,
As Africa moves forward with the African Continental Free Trade Area, Ethiopia stands at the forefront, embracing this historic agreement with the conviction that enhanced economic cooperation is key to unlocking the continent’s full potential.
Infrastructure remains a cornerstone of Ethiopia’s regional integration efforts. Through massive investments in road and rail networks, we are improving connectivity between Ethiopia and neighboring countries. The Addis Ababa-Djibouti railway, for example, is a lifeline for trade, facilitating the movement of goods and strengthening economic ties across the Horn of Africa. Our partnership in the LAPSSET Corridor with Kenya further demonstrates Ethiopia’s commitment to enhancing regional logistics, ensuring that trade flows more efficiently across borders.
Energy cooperation is another pillar of our integration efforts. Ethiopia’s vast hydropower resources, including the Grand Ethiopian Renaissance Dam, position us as a leader in regional energy trade. By exporting electricity to neighboring countries we are not only fostering economic integration in the region but also supporting industrialization and development across Africa. Reliable and affordable energy is fundamental to economic growth, and Ethiopia remains committed to being a key player in Africa’s energy transformation.
Trade and industrialization are also central to Ethiopia’s regional strategy. The development of industrial parks and special economic zones attracts investors and promotes value-added production, enhancing Africa’s manufacturing capacity. By facilitating trade within Africa and reducing barriers, Ethiopia is paving the way for a more interconnected and self-sufficient continent.
While challenges remain, including logistical barriers, security concerns, and financing gaps, Ethiopia remains unwavering in its vision of a fully integrated Africa. We stand ready to work alongside our African brothers and sisters to build a future of shared prosperity, driven by trade, connectivity, and economic collaboration. Together, we can realize the dream of a thriving, interconnected, and prosperous Africa.
In closing, I extend my deepest gratitude to UNECA for its steadfast leadership and to all of you for your tireless efforts in advancing Africa’s development agenda. Ethiopia remains committed to supporting the implementation of the AfCFTA and working in solidarity with our fellow member states to achieve a united, prosperous continent.
I urge each of us to take ownership of this transformative initiative. The AfCFTA is not just a project for our time; it is a legacy for future generations. Let history remember this era as the time when Africa stood united, broke down the barriers that held us back, and embarked on a path of unprecedented growth and cooperation.
Once again, welcome to Addis Ababa. I wish you fruitful deliberations and success in your endeavors.
Thank you.