African Ministers Seek Coordinated Policies to Expand Trade Within Continent

0
8

African ministers have advocated for increased cooperation and policy harmonization across nations in order to boost commerce throughout the continent.

The appeal was made by the ministers at a panel discussion at the Africa Trade Conference 2026 in South Africa, where they talked about how cooperation, implementation, and policy may improve the African Continental Free Trade Area (AfCFTA).

The purpose of the high-level strategic gathering is to increase Africa’s influence in determining the direction of international trade.

Access Bank, Nigeria, is sponsoring the event, which the News Agency of Nigeria (NAN) will be watching online on Wednesday.

The conference’s subject is “Building Africa’s Trade Ecosystem for Real-World Impact: Transforming Vision into Velocity.”

Speaking during the meeting, Mr. Chipoka Mulenga, Zambia’s Minister of Commerce, Trade, and Industry, stated that improving intra-African trade required coordination and policy coherence among African nations.

He claims that while Zambia has created frameworks to encourage local investment and trade, for regional trade to flourish, these frameworks must be in line with those of other African nations.

“Anything that comes together depends heavily on policy. If we want to improve trade among ourselves, it must be reliable, consistent, and cohesive,” he stated.

The minister emphasized that African countries should prioritize collaboration over rivalry and that policies should support states to build on each other’s advantages.

He used the production of copper as an example, pointing out that market potential within Africa may be limited when multiple nations try to process the same commodity without cooperation.

“Rather than competing in the same areas, we should look at each other’s comparative advantages and invest in each other’s economies,” he stated.

Speaking as well, Ghana’s Minister of Trade and Industry, Ms. Elizabeth Ofosu-Adjare, stated that Africa does not lack policies but rather confronts difficulties in harmonizing and implementing them.

She claims that variations in certification and regulatory practices between nations frequently hinder trade and deter companies.

There are plenty of policies in Africa. We don’t have a unified approach to implementing these policies,” she stated.

He clarified that goods that have been verified in one African nation may occasionally need to be certified again before being imported into another, which causes needless delays.

Countries must be prepared to make concessions in order for the AfCFTA to succeed. Integration would continue to be challenging if each nation demands independent verification of everything, he said.

The minister said that nations may start by acknowledging each other’s norms in a few areas and then progressively increase collaboration.

He went on to say that rather than waiting for all of Africa to come to an agreement, progress might begin with a few nations.

According to Ofosu-Adjare, “other nations will follow if two start and show success.”

Mr. Mmusi Kgafela, Botswana’s Minister of Trade and Industry, stated in his speech that governments must primarily foster an environment that is favorable to companies and investors.

He clarified that most economic activity is driven by the private sector, with governments now playing a more coordinating role.

The primary function of the government is to establish a climate that is conducive. The strategies and policies are already in place; coordination is what’s needed,” he stated.

By creating trade routes and alliances with neighboring nations, the minister continued, Botswana was shifting from being a “landlocked” nation to a “land-linked” economy.

He claims that cooperative initiatives with nations like Zambia are enhancing cross-border trade by reducing cargo delays through infrastructure and one-stop border posts.

In response to inquiries from attendees, Ghanaian Minister Ofosu-Adjare also addressed worries about competition from outside economies, stating that Africa needs to safeguard its industries while advancing regional commerce.

He pointed out that African nations might implement policies like tariffs to safeguard domestic businesses in cases where comparable goods are already made on the continent.

Additionally, the minister emphasized the significance of long-term funding for African industry and praised Access Bank for its support of programs meant to increase enterprises’ access to capital.

In order to improve Africa’s trading environment, conference attendees emphasized the necessity of more cooperation between governments, financial institutions, and the private sector.

Policymakers, corporate executives, and financial institutions came together for the conference to discuss workable plans for growing commerce throughout Africa’s more than 1.5 billion-person market. In NAN

LEAVE A REPLY

Please enter your comment!
Please enter your name here