African policymakers and economic leaders are calling for the immediate and full-scale implementation of the African Continental Free Trade Area (AfCFTA) agreement. The appeal was made during the 57th session of the Conference of African Ministers of Finance, Planning and Economic Development, which opened on Monday in Addis Ababa, Ethiopia.
According to speakers at the two-day conference, advancing the AfCFTA is key to driving inclusive economic growth, industrialisation, and resilience across the continent. The annual event, hosted by the United Nations Economic Commission for Africa (UNECA), brought together government officials, central bank governors, development partners, and private sector representatives from across Africa.
AfCFTA critical for inclusive growth and industrialisation
Speaking at the opening, Claver Gatete, executive secretary of UNECA, emphasised that the successful implementation of the AfCFTA would accelerate intra-African trade, reduce dependency on external markets, and support sustainable development. He described the trade agreement as a catalyst for structural transformation on the continent.
‘It is certainly a welcome development that AfCFTA-participating countries will remove tariffs on 90 percent of the goods they produce,’ said Gatete. He added that eliminating non-tariff barriers and addressing regulatory bottlenecks would further enhance Africa’s economic integration.
Addressing global uncertainties through regional integration
Wamkele Mene, secretary general of the AfCFTA Secretariat, echoed the urgency of full implementation. He pointed out that strengthening regional value chains and boosting domestic investment would be critical in unlocking the potential of the AfCFTA. Mene highlighted that 49 African nations have already ratified the agreement.
‘With global geopolitical tensions—including the war in Ukraine and Middle East conflicts—creating economic uncertainty, the AfCFTA offers Africa an opportunity to secure investment, stabilise interest rates, and promote industrialisation,’ Mene said.
He also called for enhanced infrastructure development, digital connectivity, and the mobilisation of domestic resources to ensure Africa can benefit fully from the trade pact.
A shared vision for Africa’s economic transformation
This year’s conference theme—Advancing the Implementation of the Agreement Establishing the African Continental Free Trade Area: Proposing Transformative Strategic Actions—underscored the urgency of accelerating AfCFTA goals. Delegates agreed that Africa’s future economic resilience depends on the successful integration of its markets.
The conference showcased how the AfCFTA could shift Africa’s role from a supplier of raw materials to a key player in global industrial value chains. Leaders believe that coordinated trade policies, investment in infrastructure, and digital innovation will create new opportunities for African businesses and workers.
As Africa’s largest trade agreement to date, the AfCFTA aims to create a single market of 1.4 billion people with a combined GDP of over $3 trillion. The agreement is expected to transform regional economies, generate employment, and promote sustainable development throughout the continent.
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