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Secretary General of the\u00a0African Continental Free Trade Area (AfCFTA), Wamkele Mene has said that a\u00a0major hindrance to intra-African trade is the high tariffs on agricultural products.<\/strong><\/p>\n In his remarks at the Alliance for a Green Revolution in\u00a0Africa\u00a0(AGRA) session at the ongoing 2024 Edition of the World Economic Forum Annual Meetings being held from Tuesday, 16th January, to Friday, 19th January, stated that\u00a0the continent\u2019s significant food market, with $50 billion in annual imports, is highly fragmented.<\/p>\n The\u00a0Russia\/Ukraine crisis highlighted Africa\u2019s overreliance on grain imports, despite having capable grain-producing countries like\u00a0Zimbabwe, Ethiopia, and\u00a0Uganda, he explained.<\/p>\n TODAY, AT THE WALL STREET JOURNAL EVENT \u2018TRADE\u2019S TRANSFORMATIVE\u00a0POWER\u2018, H.E.@MENEWAMKELE<\/a>\u00a0SPOKE ABOUT AFRICA\u2019S TRADE EVOLUTION. EMPHASIZING\u00a0AFCFTA\u2018S ROLE BEYOND A TRADE AGREEMENT, HE HIGHLIGHTED ITS AIM TO CATALYZE ECONOMIC GROWTH THROUGH\u00a0#LABOUR<\/a>\u00a0AND\u00a0#INNOVATION<\/a>. KEY FOCUSES\u2026\u00a0PIC.TWITTER.COM\/EOIOZIR9SR<\/a><\/p>\n \u2014 AFCFTA SECRETARIAT OFFICIAL (@AFCFTA)\u00a0JANUARY 16, 2024<\/a><\/p>\n<\/blockquote>\n \u201cA major hindrance to intra-African trade is the high tariffs on agricultural products,\u201d he stressed.<\/p>\n He stated that the\u00a0AfCFTA Agreement\u00a0seeks to address this by eliminating these tariffs, thereby enhancing intra-continental trade.<\/p>\n \u201cLastly, digitization presents a transformative opportunity for Africa\u2019s\u00a0agric\u00a0sector, impacting the broader economy and enhancing overall efficiency and productivity,\u201d he said.<\/p>\n The World Economic Forum has signed a collaboration agreement with the State of Qatar to establish a\u00a0Centre for the Fourth Industrial Revolution (C4IR) in Qatar.<\/p>\n A\u00a0Centre for the Fourth Industrial Revolution will also be established in Viet Nam.<\/p>\n The\u00a0World Economic Forum\u2019s Humanitarian and Resilience Investing (HRI) Initiative\u00a0announced more than 50 commitments, from over 40 partners, to boost impact investment in frontier markets.<\/p>\n Mr Wamkele Mene further\u00a0underscored the need to revamp rules and regulations to support the\u00a0youth\u00a0through digital leapfrogging.<\/p>\n The\u00a0AfCFTA\u00a0protocols on Digital Trade, Youth and\u00a0Women, he noted, will transition from aspirations to legally binding actions to that effect.<\/p>\n He was speaking during one of the sessions\u00a0<\/p>\n The session\u00a0highlighted the importance of engaging with young people, ensuring their voices are not just heard, but are instrumental in shaping Africa\u2019s future.<\/p>\n STILL IN\u00a0#DAVOS24<\/a>, AT THE AFRICA COLLECTIVE AND NOVARTIS HEALTH ROUNDTABLE, H.E.\u00a0@WAMKELE<\/a>\u00a0HIGHLIGHTED PIVOTAL STEPS FOR AFRICA\u2019S\u00a0#HEALTHCARE<\/a>\u00a0ADVANCEMENT. EMPHASIZING THE NEED FOR A HARMONIZED REGULATORY FRAMEWORK, HE CALLED FOR ENHANCED\u00a0#INVESTMENT<\/a>\u00a0IN\u00a0#HEALTHCARE<\/a>, WHICH HE\u2026\u00a0PIC.TWITTER.COM\/PI5RPBF1MG<\/a><\/p>\n \u2014 AFCFTA SECRETARIAT OFFICIAL (@AFCFTA)\u00a0JANUARY 16, 2024<\/a><\/p>\n<\/blockquote>\n <\/p><\/div>\n\n
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