An economic snapshot of the AfCFTA
As it stands, deeper trade integration is needed to boost Africa's production and trade. Currently the continent's Gross Domestic Product (GDP) is lower than 15 percent and intra-African trade is also lower than 20 percent of total trade; through the AfCFTA market integration aims to increase to 25 percent within the next decade.
How will the AfCFTA benefit MSMEs?
ITC and the AfCFTA
ITC's work within the Africa Continental Free Trade Agreement (AfCFTA) will work to integrate the African Private Sector and MSMEs, especially women and youth-owned businesses into the continental trade agreement.
ITC's primary areas of focus within the AfCFTA include:
The One Trade Africa programme approach
The One Trade Africa programme will empower, enhance and enable MSMEs to access business opportunities placing a particular focus on ensuring women and youth are part of the continental market equation. Through its technical assistance and advisory services, ITC will support women and youth led enterprises to engage in green techonology through the production of goods as well as service sectors.
The AfCFTA will drive autonomy through continental trade, ITC's One Trade Africa programme will also support African countries in their respective continental trade development agendas with access to pertinent trade information through the Africa Trade Observatory. The observatory will collect, analyse and disseminate trade intelligence to policy makers and businesses as well as monitor intra-African trade flows.
Through its SME Trade Academy, ITC will furnish African MSMEs with a dynamic suite of project interventions to boost the capabilities of Africa's small businesses through the How to Export within the AfCFTA training programme. As well as encourage opportunities for increased input from the private sector through in-country AfCFTA dialogue forums.
Aissatou DialloSenior Coordinator, AfCFTA and LDCsEmail: email@example.com