National Workshop on African Continental Free Trade ends

 

By: Mariama Njie

National Workshop on The African Continental Free Trade Agreement (AfCFTA) and Micro-, Small, and Medium-Enterprise (MSMEs) in The Gambia have concluded at a local hotel.

 

Organised by Ministry of Trade, industry, Regional Integration and Employment (MOTIE), in partnership with UNDP and UNDESA. The main objective of the workshop is to provide a forum for key stakeholders to share information and ideas on implementation of the AFCFTA in the Gambia and from the West Africa sub- region, to make recommendations on a strategy for continuous engagement with stakeholders in the implementation of the agreement.

 

Ms. Sagas Jagwanth- Senior Sustainable Development officer, Division for suitable Development Goals (DSDG) UNDESA said, this workshop is funded partly by the 2030 agenda for sustainable development sub- fund of the UN peace and development fund, of which the people’s republic of china is a major contributor. The project covers the role of MSMEs in achieving the SDGs.

 

She explained that MSMEs will clearly take a leading role in meeting most economic related goals of the SDGs, which includes promotion of inclusive and sustainable economic growth, increasing employment opportunities and decent work especially for the poor.

 

She pointed out that this will be a good opportunity to reflect on how governments could create incentives for entrepreneurship and develop mechanisms through the AFCFTA to support an environment conducive to MSME growth.

 

Mrs. Aissata De,  Resident Representative, United National Development programme (UNDP) said AFCFTA will accelerate intra- African trade and boost Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations.

 

She explained that it will cover a single market of 1.2 billion people and a cumulative gross domestic product (GDP) OF 3.4 trillion, across all 55 member states of African union, in terms of participating countries, AFCFTA will be the world’s largest free trade area since the formation of the world trade organization.

 

According to her, the successful implementation of the AFCFTA could significantly shift Africa’s development trajectory, the future of the African continent lies in successful, genuine regional integration.

 

She stated that the cumulative effect of AFCFTA is to contribute to the achievement of the sustainable development goals, from targets for decent work and economic growth to the promotion of industry and innovation to food security and affordable access to health care.

 

Mr. Edrissa Mass Jobe, the President of Gambia Chamber of Commerce and Industry said the Gambia is privileged to be one nine development countries, globally, where the project is being implemented the others being Brazil, Cambodia, Fiji, Kenya, Laos, the Philippines and Tanzania.

 

“Whiles it tickles my imagination to understand why the Gambia was chosen for this project, it will suffice to make the following assumptions for my introductory remarks’’ he said.

 

The African continental free trade Agreement according to the executive secretary of the United Nations Economic Commission for Africa, estimated that the potential for intra- regional trade will increase by up to $70 billion by 2040 solely due to the removal of tariffs.