The
Africa Trade Development Forum 2024 officially commenced in Kigali, Rwanda,
with a call to action for leveraging digital technologies to advance trade
across the continent. Opening the forum today, the Prime Minister of Rwanda,
Dr. Édouard Ngirente, lauded the progress made in the implementation of the
African Continental Free Trade Area (AfCFTA) and its Digital Trade Protocol. He
described these as transformative milestones in Africa’s journey toward
regional integration and sustainable development.
In
his keynote address, Prime Minister Ngirente mentioned the pivotal role of
digital technologies in streamlining trade processes, reducing transaction
costs, and enhancing efficiency within the continent’s vast trade ecosystem. He
noted that the adoption of the Digital Trade Protocol under the AfCFTA framework
signals a new era for Africa’s intra-regional trade, fostering collaboration
and innovation across borders.
“The
African Continental Free Trade Area is not just about removing trade barriers;
it is about creating opportunities for African businesses to thrive and compete
on the global stage. The integration of digital technologies into our trade
systems is key to maximizing these opportunities and ensuring that the benefits
of free trade reach every corner of the continent,” Dr. Ngirente stated.
The
forum, which has drawn policymakers, business leaders, and trade experts from
across Africa and beyond, serves as a platform for dialogue and collaboration
on the future of trade in Africa. Discussions will center on the role of
digitalization in overcoming logistical, regulatory, and infrastructural
challenges that have historically hindered intra-African trade.
Speakers
at the event highlighted the importance of harmonizing trade policies, building
robust digital infrastructure, and promoting skills development to empower
African entrepreneurs, particularly small and medium-sized enterprises (SMEs).
Participants also stressed the need for targeted investments in technology to
facilitate cross-border e-commerce and enhance the competitiveness of African
products in the global market.
The
AfCFTA, which came into effect in 2021, represents the largest free trade area
in the world by the number of participating countries. It aims to create a
single market of over 1.3 billion people and a combined GDP of $3.4 trillion,
offering unprecedented opportunities for economic growth and poverty reduction.
The integration of digital trade into its agenda is expected to further
accelerate these outcomes by unlocking new opportunities for innovation,
investment, and economic diversification.
As
the Africa Trade Development Forum 2024 continues, stakeholders remain
optimistic about the continent’s ability to overcome trade barriers through
strategic partnerships, enhanced digital capabilities, and a unified commitment
to regional integration.
By: Robert Annor
