The African Continental Free Trade Area (AfCFTA) Secretariat and TradeMark Africa (TMA) have signed a Memorandum of Understanding (MoU). This marks a major step toward promoting trade across Africa. The signing took place at the AfCFTA Secretariat headquarters in Accra, Ghana. The event was led by AfCFTA Secretary-General HE Wamkele Mene and TMA CEO Dave Beer.
This partnership aims to boost economic integration and expand trade. It will help reduce trade barriers, improve border processes, and enhance digital trade infrastructure. The collaboration will support businesses, especially Micro, Small, and Medium Enterprises (MSMEs), by giving them access to new markets. It will also strengthen regional value chains across Africa.
AfCFTA is set to create a single market of 1.3 billion people. It has a combined annual GDP of $3.4 trillion. It aims to eliminate tariffs and non-tariff barriers to trade. This will improve market access, boost productivity, and support Africa’s economic growth. Meanwhile, TMA works to increase sustainable and inclusive trade. It helps African businesses expand exports to the global market.
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A Strong Focus on Trade Facilitation
The MoU outlines cooperation in ten key areas. These include customs transit, trade facilitation, transport corridors, and standard development. It also focuses on eliminating non-tariff barriers, digital transformation, e-commerce, and private sector engagement. Women and youth in trade will also benefit from this partnership. Additionally, it promotes investment, export growth, and joint training programs.
The AfCFTA Secretariat and TMA will form technical working groups. These groups will ensure that the plans are executed effectively. Their goal is to create practical solutions that remove obstacles to trade.
This agreement was signed on AfCFTA’s fifth anniversary. Speaking on the partnership, HE Hailemariam Desalegn Boshe, TradeMark Africa’s Board Chair, said:
“We are proud to be working together to establish the Private Sector Unit within the Secretariat and to deliver fish value chain programming together.”
HE Wamkele Mene emphasized the impact of the partnership. He said:
“This partnership reinforces our shared commitment to removing barriers to trade, accelerating digital transformation, and ensuring that businesses, especially SMEs and women-led enterprises, can fully benefit from the AfCFTA.”
This collaboration marks a key milestone in advancing trade across Africa. It sets the stage for economic growth and prosperity on the continent.