UN lauds Africa for AfCFTA deal

The United Nations Center for Trade and Development (UNCTAD) Secretary General, Dr. Mukhisa Kituyi, recently shared his insights on the African Continental Free Trade Area (AfCFTA) deal. He highlighted the importance of political leadership in driving momentum for the AfCFTA, while emphasizing the role of technical support provided by UNCTAD. Dr. Kituyi noted that UNCTAD has been deeply involved in assisting with the development of the charter and roadmap for the AfCFTA, as well as building negotiating capacity for regional negotiators. The organization will continue to offer technical support and capacity building to ensure the successful implementation of the trade agreement. One of the key challenges to address is non-tariff measures that may hinder Africa's commercial integration. UNCTAD plans to work closely with governments, regional entities, and the African Union Commission to overcome these challenges. The focus will be on areas such as rules of origin, third-party country components, and traceability to facilitate trade within the continent. Additionally, Dr. Kituyi emphasized the need for new infrastructure to support intra-African trade, moving away from the colonial-era infrastructure that primarily served to export minerals from Africa. The development of physical and soft infrastructure will be crucial in realizing the full potential of the AfCFTA. UNCTAD will collaborate with African governments and regional entities to design sustainable infrastructure and explore innovative financing methods for the trade agreement. With the AfCFTA set to transform Africa's economic landscape, Dr. Kituyi sees the next phase as an exciting journey towards creating an African marketplace and economic actor. The organization aims to support the implementation of the continental free trade area over the next decade, focusing on deeper regional value chains and supporting small businesses, the backbone of Africa's economy.