Opening Remarks
by
H.E. Taye Atske Selassie, President of the Federal Democratic Republic of Ethiopia
for
the 57th Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development
Monday, March 17th, 2025
ECA, Addis Ababa
Your Excellency, Mahmoud Ali Youssof, Chairperson of the African Union Commission,
Your Excellency Mthuli Ncube, Minister of Finance of Zimbabwe and Chair of the Outgoing Bureau,
Your Excellency, Ahmed Shide, Minister of Finance of Ethiopia,
Your Excellency, Claver Gatete, Under Secretary General and Executive Secretary of the United Nations Economic Commission for Africa,
Your Excellency Wamkele Mene, Secretary General of the African Continental Free Trade Area,
Distinguished Ministers and Representatives of Member States,
Ladies and Gentlemen,
It is with great pleasure that I welcome you here to Addis Ababa for the 57th Conference of African Ministers of Finance, Planning, and Economic Development.
Africa stands at a critical juncture, a moment where we are set on to unleash our potential for transformative economic growth. The promise of a unified market, where goods and services flow freely across borders, holds the key to unlocking unparalleled growth for our continent. This vision, however, demands more than aspiration; it requires concrete action and a strategic commitment to overcome the barriers that have long hindered intra-African trade.
It is within this context that this year's theme, 'Advancing the Implementation of the Agreement Establishing the African Continental Free Trade Area: Proposing Transformative Strategic Action,' resonates with the urgency that demand action.
Excellencies,
The time for deliberation has demanded the imperative of deliverable actions. Allow me to mention the two critical, immediate steps that we deem propel African Continental Free Trade Area’s (AfCFTA's) implementation;
Firstly, we have to move beyond ratification to immediate and impactful implementation. Here I must applaud efforts already underway by member countries to provide Tariff Concessions and other services and investment related offers.
Secondly, for an effective coordination, the establishment of National CFTA Implementation Committees is indispensable. Equally important is the development of robust National CFTA Implementation Strategies, along with efforts to build institutional capacity. Here, I would like to commend UNECA, Executive Secretary Ambassador Gatete for his continuous support that is most needed in institutional capacity-building.
Excellencies,
Beyond immediate actions, we require transformative strategies that reshape our economic landscape and unlock the full potential of the AfCFTA. In view of this, I wish to emphasize the following five priorities,
First, investing in robust infrastructure encompassing both physical and digital connectivity is paramount. We must, therefore, prioritize connectivity to facilitate the seamless movement of goods and data. Our experience with Djibouti; our most connected neighbor, demonstrates the power of what my brother Mahmoud, our current AUC Chair once called it 'a life-line connectivity' of railway, road, fiber, water pipelines, and electricity. Yet, it is also important to recall that infrastructure alone is not sufficient; harmonizing our policies is equally crucial.
Secondly, focusing on strategical investment to promote value-added manufacturing is imperative. We cannot afford to remain mere 'premium exporters' of coffee, cassava, cacao or precious minerals. We need partners who invest in empowering our human capital, not those who reward our dependence on raw material exports. In view of this, industrialization, job creation, and the development of regional value chains are essential for Africa's meaningful participation in regional as well as global trade.
Thirdly, ensuring that African youth and women are fully prepared to seize the opportunities presented by the AfCFTA is an absolute requisite. This requires empowering our Micro, Small, and Medium Scale Enterprises (MSMEs), university spin-offs, research centers, and technology entrepreneurs. I commend the efforts of pan-African institutions like Afro Champions but such institutions often struggle with access to finance, training, and digital market information. This clearly demands unwavering commitment in leadership. I therefore call upon all of us to demonstrate a renewed and unyielding commitment to this essential goal.
Fourthly, creating a transparent and predictable regulatory framework is vital for attracting investment and fostering business confidence across borders. This includes strengthening intellectual property rights, ensuring fair competition, and streamlining bureaucratic processes.
Finally, ensuring equitable access to the digital economy is not a luxury but a necessity. Investing in digital literacy, infrastructure, and e-commerce platforms is critical. This will guarantee that no African is left behind in this digital age.
Excellencies,
Ladies and Gentlemen,
Ethiopia is fully committed to the implementation of the African Continental Free Trade Area and to working alongside our African brothers and sisters to build a united, prosperous, and resilient continent.
We have already submitted our tariff concessions while pilot trade in goods offer is set to commence soon. In parallel, we are prioritizing the domestication of the agreement, with a strong focus on capacity-building. To ensure readiness, popularization campaigns targeting the private sector and key implementing bodies are underway.
Ethiopia gives emphasis to infrastructure development, which is a critical instrument for our trade integration agenda. The recently inked agreement to connect Ethiopia and South Sudan as well as our participation in the LAPSSET Corridor with Kenya underscores our commitment to expanding regional logistics and trade facilitation. These corridors will significantly enhance mobility, bolster trade, and create better avenues for the implementation of the AfCFTA.
Beyond transport infrastructure, Ethiopia is investing in regional energy integration. By exporting renewable, affordable, and sustainable electricity to neighboring countries, Ethiopia is helping bridge Africa’s energy deficit—a prerequisite for investment and industrialization.
Furthermore, Ethiopia’s investment in industrial parks and special economic zones highlights our commitment to value-added production and manufacturing. As I emphasized in this very hall during the African Business Forum, over-reliance on external incentives has hampered our textile sector. Africa must exercise caution in its dependence on incentives often linked to others’ strategic interests. To ensure a sustainable industrialization, we must prioritize self-incentivization and cultivate robust intra-African collaboration.
Excellencies,
Ladies, and Gentlemen,
The African Continental Free Trade Area is a call for strategizing; but most importantly it is a call for action. It is a unique opportunity to reshape Africa’s economic landscape and assert our rightful place in the global economy.
In this regard, I commend ECA for its invaluable technical support which continues to guide our implementation efforts. I also acknowledge the African Union and all member states for their dedication to advancing this transformative agenda.
As we convene today, let us reaffirm our determination to push forward with the necessary reforms and actions that will make the African Continental Free Trade Area (AfCFTA) a tangible driver of Africa’s economic transformation.
Let us also remember that history will judge this moment not by the agreements we sign but by the true progresses we accomplish. It is within our power to turn African Continental Free Trade Area into a reality that avails to and benefits all Africans.
I am aware that our experts have been working hard on this subject for the past couple of days. I acknowledge, with deep gratitude, the wealth of insights their invaluable efforts have yielded.
On that note, I extend my best wishes for a productive deliberation and actionable outcomes from this Ministerial Session.
I Thank you!