30 African countries are set to join the Guided trade initiative of the African Continental Free Trade area As precursor to the main roll out of the 1.5 billion market area, eight countries commenced a Guided Trade Initiative In October 2022. However Secretary General of the AfCFTA Wamkele Mene has revealed that the number is set to increase to 38 in the coming months. He was speaking at a press conference to herald the Biashara Afrika Summit which is underway in Kigali Rwanda
The Guided Trade Initiative of the African Continental Free Trade Area has experienced a slow start since its inception in October 2022. However as the Biashara Africa summit Begins in Kigali Rwanda, there are indications that more African Countries will join the framework
As you know, in October 2022. We started with seven countries at that time. This year, when we launched the second edition of the guided Trade initiative, there will be 38 countries that will be participating in the guided trade initiative.
In other words, 38 countries that will be trading under the rules of the AfCFTA. So we’ve made some progress. What has had to happen over this period, this two year period, is that countries at national level had to undertake, continue, undertake reforms and continue those who didn’t require to undertake any reforms, but continue to introduce legislation, custom systems, that will enable the trade to happen.Wamkele Mene, Secretary General, AfCFTA – South Africa
The host Nation of the 2024 Biashara Afrika Summit – Rwanda says it positioning itself to play a leading role in accelerating the implementation of the AfCFTA which is deemed to be a solution to the economic challenges confronting the African continent.
So we do not take this lightly because we are supposed to serve a market of 1.4 billion people and we want to make Rwanda a production hub for the continent. And there is a lot that has to be done. As Minister for Trade and Industry, I want to focus my effort more on industrializing the country in particular, because if we have to serve this big market, we have to produce. So in a nutshell, this is our priority over the next five years. We have got a revised Rwanda industrial policy that has to be implemented to the letter.
Prudence Sebahizi, Minister of Trade and Industry – Rwanda
The Biashara Africa Summit which Opens on October 9 will bring together government officials and private sector player in a bid to boost Intra African Trade