Algiers, Algeria
Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA), announced at the 12th Africa Investment and Trade Forum (AFIC12) in Algiers that the continental trade agreement has concluded its years-long negotiation phase and officially transitioned into active trade operations. During the forum, the Secretary-General confirmed that legal frameworks and trade mechanisms (operational frameworks) have now been fully put into effect.
The trade laws that African nations have been discussing and negotiating for a long period have now reached a conclusion and are being implemented on the ground. Wamkele Mene stated, “AfCFTA is no longer just a forum where negotiations are discussed; rather, it is a practical phase where instruments intended to streamline trade exchange and boost private sector participation have entered into operation.” This shift is seen as a critical milestone in the continent’s history, marking a major transformation and the realization of economic integration.
The primary goal of the agreement is to increase intra-African trade, which aims to reduce the continent’s high level of dependency on external markets. Currently, the collective market of the continent plays a vital role in resisting the impacts of global geopolitical tensions and supply chain disruptions on the African economy. The Secretary-General urged that the continent must achieve self-sufficiency by enhancing its own industrial capacity and strengthening regional value chains.
Another issue given priority at the forum was the fairness of trade participation. Wamkele Mene explained that if the AfCFTA is to create sustainable growth and job opportunities, women, youth, and Micro, Small, and Medium Enterprises (MSMEs) must be given a meaningful place within the trade framework. As these sectors of society are the backbone of the continent’s economy, it was noted that favorable conditions have been created for them to utilize the market opportunities emerging from the free trade area.
The progressive movement Algeria has shown in translating the agreement into action received appreciation from the Secretary-General. Describing the country as a strategic gateway connecting Africa with the global market, Mene called upon other nations to demonstrate similar commitment.
Overall, this trade area—led by 1.3 billion people and boasting a combined Gross Domestic Product (GDP) of over $3 trillion—is expected to change the economic landscape of Africa. The current implementation phase has brought a significant opportunity, particularly for private sector actors to participate extensively and for the continent’s natural resources to be converted into manufactured goods.
It was also indicated that the AfCFTA Secretariat is working with great diligence to modernize the digital trade system and make the continent competitive in the global trade arena, in collaboration with Japan and other international institutions. This implementation is believed to accelerate efforts to ensure food security in Africa, manufacture pharmaceutical products locally, and grow the digital economy.
