Addis Ababa: Driven by the African Continental Free Trade Area (AfCFTA) as a powerful tool for inclusion and economic integration, intra-African trade is projected to increase by 45 percent by 2045, according to UN Under-Secretary-General and Executive Secretary of the Economic Commission for Africa (ECA) Claver Gatete. Gatete highlighted that by 2045, this growth in trade would enhance Africa’s GDP by 1.2 percent.
According to Ethiopian News Agency, the AfCFTA will also significantly boost expansions in various sectors, including agri-food by 60 percent, industry by 48 percent, services by 34 percent, and energy and mining by 28 percent. Gatete emphasized that the Africa Free Trade Area is a key instrument for inclusion and economic integration, ensuring no country is left behind.
Gatete pointed out that historically, landlocked developing countries (LLDCs) in Africa have faced disadvantages due to high trade costs and limited access to global markets. However, the implementation of the AfCFTA provides Africa’s 16 LLDCs with a unique opportunity to overcome geographical challenges and stimulate economic growth.
To fully realize the potential of the AfCFTA, Gatete proposed four strategic actions: strengthening partnerships and investment platforms, enhancing regional value chains and special economic zones, mobilizing domestic resources for industrialization while curbing illicit financial flows, and improving infrastructure and digital connectivity. He stressed the necessity of recognizing the AfCFTA as Africa’s response to a global economic system that has historically marginalized the continent. Achieving success requires bold action, political will, and sustained commitment.
Gatete also underscored the importance of integrating AfCFTA priorities into national development plans, allocating budgets that reflect AfCFTA commitments, and harmonizing policies to foster business growth. He reiterated that the ECA is prepared to support member states with data-driven insights, capacity-building, and technical expertise to transform this vision into a reality.