President Muhammadu Buhari appealed to his fellow African leaders to ensure that the African Continental Free Trade Area could be maximised to bring benefits for all African countries.
“Under the African Continental Free Trade Area, we can double our intra-African trade by 2030, reduce our reliance on imports and therefore create more jobs within the continent,” President Buhari spoke at the 2nd Intra-African Trade Fair 2021 in Durban, South Africa.
“We cannot achieve this goal by talking alone. The implementation will be a difficult journey. But all challenges are surmountable if both the public and private sectors collaborate.”
The president also expressed his optimism that the creation of the biggest free trade area in the world, the AfCFTA, will be beneficial for both the public and private sectors.
“Free trade must also be fair and fairness can only be achieved when there is full compliance with regulations, especially those relating to rules of origin,” Buhari added.
“The AfCFTA is for “made-in-Africa” products and services. Africa must be a marketplace where no country is left behind. As we implement, we must ensure that we create jobs and enhance revenues for all parties. We must leverage on one another’s strengths to succeed.
“On the public sector side, Governments must support local entrepreneurs to build scale and therefore improve productivity.
“This means providing incentives to encourage our businesses to formalise and comply with laid down regulations.”
