Addis Ababa, 17 March 2025 (ECA) - “The priority for the African Continental Free Trade Area is full implementation of the initiative as Africa reaches for greater resilience, economic diversification and self-sufficiency in a world where trade and tariffs have become weaponised,” said Secretary General of the AfCFTA Secretariat, Wamkele Mene at the 2025 ECA Conference of Ministers of Finance, Planning and Economic Development.
In the light of the need to move forward, and to pull investors and business along, the Secretariat is implementing its private sector engagement strategy, focusing on four high-potential industry segments: agriculture and agro-processing, automotive, pharmaceuticals, and transport and logistics.
“These sectors were selected based on their strong potential to meet local demand with local production, he said.
In the automotive industry, the Secretariat is collaborating with Afreximbank, the African Association of Automotive Manufacturers, and the African Organization for Standardization to strengthen local vehicle and components manufacturing.
This includes initiatives such as the beneficiation of critical minerals for New Energy Vehicles.
“In the pharmaceutical sector, we are advancing a pooled procurement mechanism, coordinated by African Union agencies, to support affordable access to medicines.” This is supported by the Intellectual Property Rights Protocol.
A solid legal framework for the AfCFTA underpins negotiated protocols on trade in goods and services, dispute settlement, investment, competition policy, intellectual property rights, digital trade, and women and youth in trade.
He outlined the operational tools already put in place, such as the E-Tariff Book, a digitalized database that provides importers and exporters with precise tariff information for each product and country; and the Rules of Origin Manual - a comprehensive guide to assist businesses to comply with trade regulations. The AfCFTA Adjustment Fund, which has already mobilised $1bn, was established to address economic disparities.
He told the ministers that the Pan-African Payment and Settlement System (PAPSS) platform allows businesses to transact in local African currencies. Uptake to date had been slower than expected, he said, and efforts are ongoing to accelerate adoption by commercial and central banks.
Mene also emphasised that the AfCFTA was not just about increasing trade volumes but also driving structural economic diversification.
Issued by:
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Economic Commission for Africa
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