Ethiopia Emphasizes Significance of AfCFTA to Achieve Stronger, Inclusive Pan-African Trade Ecosystem

Addis Ababa February 29/2024 (ENA) Africa Continental Free Trade Area (AfCFTA) is significant in order to achieve a stronger and more inclusive Pan-African trade ecosystem, the Ethiopian Permanent Mission in Geneva underscored.

Ambassador Tsegab Kebebew, Permanent Representative of Ethiopia to the UN Office at Geneva delivered a Presentation on the subject of "Regional projects and dynamics with pan Africa reach” at the ambassadors' New Year reception hosted by Swiss Africa Business Circle (SABC) held on 28 Feb 2024 in Bern, Switzerland.
 
The ambassador's speech focused on Agenda 2063, the African Union's long-term strategic framework for inclusive and sustainable development, as a blueprint for the continent's transformation.
 
In his speech, Ambassador Tsegab emphasized the significance of the Africa Continental Free Trade Area (AfCFTA) as a high impact, major flagship project of AU 2063 in  order to achieve a stronger and more inclusive Pan-African trade ecosystem.
 
He noted that the AfCTA requires comprehensive coordination, harmonization, and progressive integration, which is best accomplished through Regional Economic Communities (RECs).
 
In this connection, the permanent representative provided intensive explanation on major regional projects that the IGAD region is working on, of which Ethiopia is a major partner.
 
Tsegab  also went on to mention about the Addis-Djibouti corridor, the Regional Energy Trade among East African Countries, and the Lamu Port-South Sudan-Ethiopia-Transport (LAPSSET) Corridor Project, in which Ethiopia is a significant stakeholder.
 
According to the Ambassador, these initiatives support the goals of the African Continental Free Trade Area and Agenda 2063 of the African Union, which seek to boost socioeconomic development, lower poverty, and strengthen Africa's connectivity and competitiveness in the world economy.