The Economic Commission for Africa (ECA) Acting Executive Secretary, Mr. Antonio Pedros, has urged for the expedited implementation of the African Continental Free Trade Area (AfCFTA) to promote intra-African trade and to accelerate the industrialization of African countries. The AfCFTA Agreement, which was signed by 54 African countries in 2019, is expected to help the least developed countries (LDCs) in Africa to recover and accelerate their growth.
The World Trade Organization (WTO) and the United Nations Office of the High Representative for Least Developed Countries (UN OHRLLS) have organized the Regional Consultation on LDC5 for the LDCs to take stock of the trade elements of the Doha Programme of Action for the Least Developed Countries for the Decade 2022-2031 (DPOA). The consultation is expected to provide significant economic benefits to African countries. WTO Deputy Director-General, Mr. DOG Xiangchen Zhang, noted that trade has been identified as one of the forces for achieving the ambitions set out in the DPOA.
The AfCFTA Agreement and the Regional Consultation on LDC5 are expected to play a vital role in ensuring that the LDCs in Africa are able to achieve their development goals and benefit from the opportunities provided by the AfCFTA. The Regional Consultation on LDC5 will provide a platform for African countries to discuss the trade elements of the DPOA and to identify trade related development opportunities that can help facilitate their economic growth. The findings from the consultation will feed into the Fifth UN Conference for LDCs in Doha, Qatar, in early March 2023.
The AfCFTA Agreement and the Regional Consultation on LDC5 provide a great opportunity for the LDCs in Africa to benefit from the free trade agreement and to ensure their economic growth. The implementation of the AfCFTA Agreement is expected to boost intra-African trade and accelerate economic development in African countries. The consultation will provide a platform for the LDCs in Africa to discuss the trade elements of the DPOA and identify development opportunities that can help them achieve their development goals. The findings from the consultation will be of great significance and will contribute to the success of the Fifth UN Conference for LDCs in Doha, Qatar in 2023.
Overall, the implementation of the AfCFTA Agreement and the Regional Consultation on LDC5 are expected to provide significant economic benefits to African countries and ensure the economic growth of the LDCs in Africa. The findings from the consultation will be of great significance and will help to ensure the successful implementation of the AfCFTA Agreement and the successful outcomes of the Fifth UN Conference for LDCs in 2023.
Amira Kaba is a highly experienced geopolitical analyst with a focus on Africa. She has spent over a decade studying and analyzing the political, economic, and social developments in various African countries, and has a deep understanding of the complex issues that shape the continent’s political landscape. With her extensive knowledge, analytical skills, and passion for Africa, Amira is a leading voice in R2iNTEL.
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