AfCFTA @5: Hailemariam Dessalegn Calls for Collective Action to Boost Intra-African Trade
Former Ethiopian Prime Minister Hailemariam Dessalegn delivered a keynote lecture at the African Continental Free Trade Area (AfCFTA) Secretariat, emphasizing the need for collective action to overcome the challenges hindering intra-African trade.
Dessalegn commended the progress made by AfCFTA, citing the growth of intra-African trade from $140 billion in 2017 to $190 billion in 2023. However, he noted that intra-African trade still stands at just 15% of total African trade, compared to 50% in Asia.
The former Prime Minister identified three major challenges facing intra-African trade: poor infrastructure, complex regulations, and limited access to finance. He emphasized the need for investment in transport corridors, leveraging public-private partnerships to finance infrastructure, and digitalizing trade processes.
Dessalegn also stressed the importance of implementing effective trade and industrial policies to build quality, productivity capacity, and regional value chains. He cited the AfCFTA Futures Report on Value Chains, which identifies regional products and firms with the most intra-Africa export potential.
The lecture marked the fifth anniversary of AfCFTA, with Dessalegn calling for collective action to make the agreement work. He emphasized that making AfCFTA a success is a once-in-a-generation opportunity to reshape Africa’s future.
As the AfCFTA celebrates its fifth birthday, Dessalegn’s lecture served as a reminder of the importance of collective action and cooperation in achieving the continent’s economic integration and development goals.
