Accelerating AfCFTA implementation
Logistics industry executives are bullish about the African Continental Free Trade Agreement but concerns are rife around its implementation. Geoffrey White, CEO of Agility Africa joins CNBC Africa to discuss what the core value chains need to speed up the implementation of the trade pact.
Tue, 13 Jun 2023 12:37:39 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Efficient Infrastructure and Digitalization: Mr. White emphasized the critical role of quality infrastructure and digitalization in enabling seamless cross-border trade within Africa. Improving logistics processes, eliminating checkpoints, and upgrading customs systems are essential to enhance the flow of goods and services across the continent.
- Slow Implementation and Realistic Expectations: While acknowledging the slow progress in implementing the AfCFTA, Mr. White highlighted the need for realistic expectations regarding the complexities of creating a continental free trade zone with 1.3 billion people. He stressed the importance of developing efficient trade lanes to catalyze trade under the agreement.
- Warehousing and Local Manufacturing: Agility Africa's focus on building international standard warehouse parks across Africa reflects a commitment to supporting local and international businesses. By offering streamlined leasing processes and secure, well-equipped facilities, Agility aims to facilitate business growth, local manufacturing, and e-commerce development within the region.
The implementation of the African Continental Free Trade Agreement (AfCFTA) has been a topic of great interest and scrutiny within the logistics industry. Logistics industry executives, including Geoffrey White, CEO of Agility Africa, are optimistic about the agreement's potential but are also cautious about the challenges hindering its smooth implementation. The core value chains within the logistics sector play a critical role in speeding up the realization of the trade pact's benefits. Mr. White highlighted the need for efficient infrastructure, digitalization, and streamlined processes to facilitate seamless trade across borders in Africa. As the global supply chain landscape continues to evolve, Africa stands at a crucial juncture in leveraging the AfCFTA to transform its economic prospects and solidify its position in the global marketplace. Despite early hurdles and the slow pace of progress, there is a shared belief in the transformative power of the trade agreement to drive growth, create jobs, and foster prosperity across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.
