Ruto pushes for more intra-Africa trade under AfCFTA
The Kenyan leader expressed full support for the flagship agency's mandate to enhance integration and eliminate trade barriers across the continent.
President William Ruto emphasised the crucial importance of intra-African trade in his address to the Africa Continental Free Trade Area (AfCFTA) Secretariat in Accra, Ghana, raising concerns about low trade volumes.
"Intra-African trade is at an alarmingly low 15 per cent compared to the European Union's over 70 per cent or North American Free Trade Area's 59 per cent," Ruto said on Wednesday.
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He, however, highlighted ongoing efforts to address this disparity, emphasising the role of regional economic blocs and initiatives like the AfCFTA.
"The good news is that something is being done. Africa's regional economic blocs are increasingly trading with and among themselves, with the East African Community leading the way," he added.
President William Ruto addresses the Africa Continental Free Trade Area (AfCFTA) Secretariat in Accra, Ghana, during his state visit on April 3, 2024. (Photo: PCS)
Acknowledging the African Union's establishment of AfCFTA as a flagship agency, Ruto expressed full support for its mandate to enhance integration and eliminate trade barriers across the continent.
He stressed Kenya's readiness to integrate Africa's financial sector and expedite policy and research development initiatives to promote competitiveness.
Welcomed by AfCFTA Secretary-General Wamkele Mene, the President was commended for leading efforts to advance inclusivity and economic integration across the continent.
Mene noted Kenya's growing significance as a trade destination under Ruto's leadership, emphasising AfCFTA's alignment with his vision for inclusive economic benefits and opportunities for SMEs and the youth.
President William Ruto and other officials visit the Africa Continental Free Trade Area (AfCFTA) Secretariat in Accra, Ghana, on April 3, 2024. (Photo: PCS)
The SG also highlighted concrete steps taken to implement protocols on digital trade, and the involvement of women and youth in trade, to create an inclusive economy and trade environment across Africa.
AfCFTA is a transformative initiative that creates a unified market for goods and services across the continent and facilitates trade without restrictions. With the participation of 55 AU countries and eight regional economic blocs, it is the world's largest free trade area.
President Ruto's three-day state visit to Ghana, which began on Wednesday, is his first to that country since he took office in September 2022.
Kenya and Ghana have already signed seven agreements to strengthen their bilateral ties, with cooperation in sectors including trade, science, technology, tourism, education, governance, and defence.
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