Songwe says trade bloc to spur growth

The Economic Commission for Africa (ECA) Executive Secretary, Vera Songwe, says African Continental Free Trade Area (AfCFTA) is an exciting and promising stimulant for economic growth in Africa.

She says the trade bloc will boost infrastructure investments as well as help address the economic causes for African migration to Europe, among others.

Songwe said this when she met and discussed with a European Union delegation in Addis Ababa, Ethiopia on the role of non-state actors in ensuring the success of the AfCFTA.

The EU delegation was led by the President of the European Economic and Social Committee (EU-EESC), Luca Jahier.

Trade, investment, economic growth and migration were at the core of the discussions that came a day after the AfCFTA came into force.

Said Songwe; “One of the most important impacts of AfCFTA is that it opens the door for funding Africa’s infrastructural needs, whether its railways, highways or telecommunications, or energy. In turn emergence of adequate infrastructure will create value chains that can strengthen old markets and lead to new markets and more jobs.”

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