The transformational opportunities offered by the African Continental Free Trade Area (AfCFTA) together with the measures needed to unlock them has been the focus for a high-level Ministerial Dialogue convened by the UN Economic Commission for Africa in Addis Ababa this week.
During the official opening of the 51st Conference of Ministers, Ethiopian Prime Minister Abiyi Ahmed, urged the assembled finance ministers and policy makers to use their ‘collective vision’ to create the right conditions and commit the necessary resources for the creation of the world’s largest trading bloc.
The Prime Minister, who stated that his government is ready to ratify the AfCFTA deal and deposit its instruments with the African Union, said: “Let us finance our own development. There are no losers with the AfCFTA. We are all winners.”
Discussions on the theme: ‘The African Continental Free Trade Area: creating fiscal space for jobs and economic diversification’ addressed specific concerns in relation to falling tax revenues arising from the free movement of goods.