AFCFTA: CRITICAL ISSUES OF INFRASTRUCTURE MUST BE ADDRESSED — RWANDA HIGH COMMISSION

To further promote intra-Africa economic integration, boost African Continental Free Trade Area, AfCFTA, the Rwanda High Commission to Nigeria, Christophe Bazivamo said that unlocking the full potential of AfCFTA requires more than just eliminating tariffs, but critical issues of infrastructure must be addressed. By Providence Ayanfeoluwa

Speaking at a media briefing, Bazivamo added that beyond the removal of trade barriers and development of infrastructures, to truly unlock the AfFCTA potential, local industries must be nurtured to transform Africa from a resource exporter to a manufacturing powerhouse.

Bazivamo said: “Let us nurture our entrepreneurs, empower our skilled workforce especially our youth, and invest in technology that elevates our products to global standards. We must amplify our voices on the global stage participating in trade fairs and exhibitions like Ecofair, it is crucial.

“We must invest in modern roads, efficient railways, and revitalized ports, stitching our continent together in a seamless web of connectivity. Only then can trade thrive, delivering goods swiftly and cost-effectively across vast distances”, he said.

Also, Head of Economic and Commercial Office, Embassy of Arab Republic of Egypt, Amr Altantawy, said that trade volume between Nigeria and Egypt stood at $143 million in 2022 and it is far below the expectation and capabilities of the economies of both countries.

“Regarding the economic bilateral relations, Egypt and Nigeria are the two largest economies in Africa. Economic relations between the two countries witnessed a new level of activities during the past few years”, Altantawy said.