{"id":433561,"date":"2017-11-02T18:16:51","date_gmt":"2017-11-02T18:16:51","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/11\/02\/continental-free-trade-possible-in-5-10-years-kagame\/"},"modified":"2017-11-02T18:16:51","modified_gmt":"2017-11-02T18:16:51","slug":"continental-free-trade-possible-in-5-10-years-kagame","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/11\/02\/continental-free-trade-possible-in-5-10-years-kagame\/","title":{"rendered":"Continental free trade possible in 5-10 years \u2013 Kagame"},"content":{"rendered":"

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President of Rwanda, Paul Kagame, is projecting the removal of all continental barriers to allow for free trade in Africa within the next 5 to 10 years.<\/p>\n

According to the Rwandan President, the various regional blocs in Africa have done a lot \u2013 putting in place the right measures to allow for unification in the area of continental free trade.<\/p>\n

Speaking at the 2017 Global Business Forum, Africa, in Dubai, Paul Kagame said: \u201cI think within 5-10 years we will see more progress adding to what we have already realised. If you look at different regions, like the ECOWAS, they have made progress especially in the area of free movement of the people. Very significantly, if you also look at the east African region even more progress has been made in the area of Customs union and integration in the area of infrastructure.<\/p>\n

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\u201cThese include no tariffs in the areas of power and telecommunications, including railway networks. So, you can see everything coming together with more trade, investments across countries of different regions. In fact, the southern African block is even more ahead with intra-regional trade \u2013 which means that we are coming together, no matter the bloc that you are referring to on the continent,\u201d he told the audience.<\/p>\n

Mr. Kagame further stated: \u201cWe can get to non-tariff trade across the borders of the continent, because if we are seeing it work in the east African region and other things are working in other regions, then it\u2019s possible because it\u2019s already a big step for us as a union\u201d.<\/p>\n

Going beyond the current level of intra-Africa trade estimated at around 15 percent, Mr. Kagame said, is dependent on building knowledge and information to tackle existing bottlenecks, which he believes is being worked on by member-nations already.<\/p>\n

Heads of State in Africa have signed an agreement to implement the Continental Free Trade Agreement (CFTA) which is to foster free-trade.<\/p>\n

The CFTA, when implemented, will also reduce the continent\u2019s vulnerability to external shocks and is expected to enhance the participation of Africa in global trade as a respectable partner, thereby reducing the continent\u2019s dependence on foreign aid and external borrowing.<\/p>\n

In 2000 intra-continental trade accounted for 10% of Africa\u2019s total trade, and increased marginally to 11% in 2015.<\/p>\n

Trading among members of the European Union, for example, amounted to 70% in 2015. Intra-African trade is still estimated at less than two percent (2%) of global trade.<\/p>\n<\/div>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

President of Rwanda, Paul Kagame, is projecting the removal of all continental barriers to allow for free trade in Africa within the next 5 to 10 years. 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