Private sector crucial to successful AfCFTA implementation, Africa Trade Forum delegates agree

Abstract

The 2018 Africa Trade Forum ended in Lagos, Nigeria, with delegates agreeing that while governments need to set a conducive environment through collective and coordinated actions for the successful implementation of the African Continental Free Trade Area, the private sector should to be the main driver of the AfCFTA. They also agreed that complementary interventions to boost competitiveness and reduce the high costs of doing business on the African continent would be crucial to ensure win-win gains from the AfCFTA – these will require proactive policies and programmes in the areas of infrastructure, financing, skills development, trade facilitation and quality infrastructure. Delegates agreed the establishment of new business models, including renewable energy mini grids, was key to ensure efficient and sustainable access to electricity and help fill the existing gap. “The recommendation is that we should promote new and reinforce existent sub-regional power pools within the continent,” Mr. Karingi said. The Forum highlighted the crucial importance of advocacy, consultations and consensus building on the continent around its major programmes. Mr. Karingi thanked Nigeria and the Government of Lagos State for hosting the forum and for their dedicated support and collaboration in the lead up to this Forum.