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23 November 2021 12:39

The second Intra-African Trade Fair took place in Durban from 15 to 21 November 2021

The second Intra-African Trade Fair took place in Durban from 15 to 21 November 2021

IATF 2021 provides a platform to promote trade under the AfCFTA by bringing together continental and global buyers and sellers, and enabling stakeholders to share trade, investment and market information as well as trade finance and trade facilitation solutions designed to support intra-African trade and the economic integration of the continent, as reported by DUrbanTV, a partner of TV BRICS.

The Intra-Africa Trade Fair is considered as a vehicle towards the achievement of the African Continental Free Trade Area Agreement (AfCFTA) which came into force on January 1, 2021 and brings together a support bedrock of about 1.3billion people with a cumulative GDP of about USD 4trillion.

IATF2021 focuses on Africa’s creative economy as well as the automotive industry with dedicated programmes.

11,828 people attended the event physically, while over 27,000 did so virtually via the IATF Virtual platform. Participants at IATF 2021 came from 128 countries around the world.

Former Nigerian President Chief Olusegun Obasanjo, Chairman of the IATF Advisory Council, described IATF as a movement towards an economically reliable Africa. 

Speaking during the CANEX Summit in Durban, Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank said that the young men and women in the creative sector have turned it into tradable services with a global reach, appeal and impact: “At Afreximbank, we fully understand the power of the creative industry to catalyze intra-African trade, create millions of jobs for the continent’s young population, and promote the emergence of national and regional value chains. We also know the power of creatives to catalyze industrial development because this is a bankable industry.”

He said at least 29 of the 55 member countries that had signed the AfCFTA had already ratified the Agreement protocols, making it easier for citizens of their countries to move freely. Other countries were in the process of signing the protocols. 

Durban had only four months to prepare for the event, whose opening ceremony was graced with the presence of seven Heads of State and Government, including President Cyril Ramaphosa of South Africa, President Muhammadu Buhari of Nigeria, President Lazarus Chakwere of Malawi, President Hakainde Hichilema of Zambia, President Emmerson Mnangagwa of Zimbabwe, Hon.

Abidjan, Côte d’Ivoire, will host the third IATF in 2023.

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