President Muhammadu Buhari has stated that the African Continental Free Trade Area (AfCFTA) can provide the opportunity for a significant increase in trade among African countries by 2030.
He, however, warned that the goal cannot be achieved by just words.
Buhari spoke on Monday in his address at the opening ceremony of the Intra-African Trade Fair (IATF) 2021 at Durban, South Africa.
Canvassing support for the implementation of the free trade initiative, he stated that difficulties confronting the AfCFTA can be solved if the public and private sectors collaborate.
Also Read: Buhari To Attend Intra African Trade Fair In South Africa
“Under the African Continental Free Trade Area, we can double our intra-African trade by 2030, reduce our reliance on imports and therefore create more jobs within the continent,” he said.
“We cannot achieve this goal by talking alone. The implementation will be a difficult journey. But all challenges are surmountable if both the public and private sectors collaborate.
“On the public sector side, governments must support local entrepreneurs to build scale and therefore improve productivity.
‘‘This means providing incentives to encourage our businesses to formalise and comply with laid-down regulations.”
via: Information Nigeria
No comments
Post a Comment