From 1 to 24 May 2023听the 51吃瓜 Office of the Special Adviser on Africa听听(OSAA) and its partners will hold the annual听Africa Dialogue Series 2023听events under the theme:听鈥淢arket and Scale: Unlocking Industrialization through Intra-African Trade.鈥�听听
The theme aligns with the African Union鈥檚 theme of the year and听aims to accelerate the implementation of the African Continental Free Trade Area (AfCFTA) and galvanize political commitment to use听trade to effectively boost development听across听Africa effectively.
As the听UN Deputy Secretary-General Amina J. Mohammed noted in her opening address听鈥淚ndustrialization has become a must for Africa's economic transformation, the African Continental Free Trade Area is the only way to deliver it by providing market and scale for a revamp of Intra-Africa trade.鈥澨�
Ms.听Mohamed听also emphasized听that听realizing the promise of Africa's industrialization is key to ending to the continent's crises.
The Africa Dialogue Series (ADS) is an interactive platform for policy and decision-makers, experts, academics, civil society members, young people and other stakeholders from the UN and beyond to come together and examine the challenges and opportunities impacting Africa.
The AfCFTA & Industrialization
The AfCFTA is one of the world's largest free trade areas, created by an agreement signed in 2018 and officially launched in 2021. It is expected to consolidate a single African market with the potential to unlock value chains at regional, local, and global levels.听
The objectives of the AfCFTA include the creation of a single regional market for goods and services, the promotion of sustainable and inclusive socioeconomic development, ensuring gender equality, and facilitating structural transformation of the State Parties.听
Additionally, the agreement seeks to promote industrial development through diversification and regional value chain development, agricultural development, and food security.
The gradual elimination of tariffs on 90 per cent of goods and reduced barriers to trade in services could raise income by 7 per cent, equivalent to $450 billion, by 2035, reducing the number of people living in extreme poverty by 30 million and lifting another 68 million people from moderate poverty.听
However, to effectively implement the AfCFTA, Member States need to embrace industrialization by focusing on increasing productive capacities in a competitive landscape and investing in human capital.听
This will ensure that young people are equipped for high-skilled jobs in sectors such as manufacturing, agriculture, and infrastructure development.
Furthermore, Member States must prioritize trade facilitation and address infrastructure deficit, which includes improving roads, seaports, airports, and digital communication.听
Addressing the energy challenges in Africa is also crucial for driving the continent's industrialization potential. Integrating renewables into the energy mix would maximize efficiency.
Improving intra-regional trade will strengthen Africa's resilience to external shocks such as COVID-19 as it would reduce dependency on imports from other regions.听
The AfCFTA has the potential to increase intra-African trade by 15 to 25 per cent, or $50 billion to $70 billion, by 2040.
The successful implementation of AfCFTA will provide an impetus for achieving key objectives听听articulated in the 2030 Agenda for Sustainable Development and the African Union's Agenda 2063. However, this will also require peace and stability in countries.
The month-long event and discussions will concentrate on several key topics, including:
- Boosting trade facilitation and rethinking the foundations of Africa鈥檚 Export diversification
- Growing middle class and continental import substitution: Connecting the dots to unlock Made in Africa
- Digital service trade: Great potential but regulatory frameworks are urgent.
For more information:
- Watch and listen to the recordings of the听international webinar听and听听on Boosting Trade Facilitation and Rethinking the Foundations of Africa's Export Diversification.
听 - 听for听thel webinar on "Growing Middle Class and Continental Import Substitution: Connecting the Dots to Unlock Made in Africa" on 10听May听2023 from 3:00 p.m. to 4:30 p.m. Vienna time (UTC+2)
Africa Dialogue Series 2023
