Ethiopia declares necessary progress in the implementation of the AfCFTA

State Minister of Trade and Regional Integration of Ethiopia, Yasmin Wohabrebbi noted that Ethiopia's ongoing macroeconomic reform is creating favourable conditions for implementing and benefiting from the agreement. Following the ratification of AfCFTA in 2019, the country has developed a national strategy for its implementation, which identifies key sectors that will enable Ethiopia to gain competitive advantage and integrate into regional and global value chains.

Important economic reforms, including changes in the financial sector and telecommunications, as well as liberalisation of foreign trade, are crucial to improve trade integration, the Minister stressed. The government continues to advance the implementation of the agreement through various initiatives, as well as training and awareness raising among stakeholders. This is reported by Fana Broadcasting Corporate, a partner of TV BRICS.

The development of the AfCFTA implementation strategy is also considered a milestone for the realisation of the agreement, which will be key not only for Ethiopia's economic development but also for promoting regional integration across the continent. The strategy includes prioritising actions for the short, medium and long term.

The Minister expressed the necessary progress in the implementation of the AfCFTA, which is critical to achieving Africa's economic integration. 

AfCFTA aims to accelerate intra-union trade and strengthen Africa's position in the global market. The agreement is one of the key Flagship Projects of Agenda 2063 Africa’s development framework covering the development of the continent.