UK has launched a program worth $46m to support negotiations and implementation of AfCFTA. This was announced by International Trade Secretary Anne-Marie Trevelyan
This AfCFTA support programme will provide trade facilitation and trade policy support to the AfCFTA Secretariat and Member States through TradeMark East Africa (TMEA), Overseas Development Institute (ODI) and other regional partners
“This new aid programme shows that trade is a force for good, and will lead to increased trade, investment, and prosperity for both Africa and the UK,” says International Trade Secretary Anne-Marie Trevelyan
The AfCFTA Support Programme complements the UK’s broader partnership with the African Union as a multilateral institution to promote global values seeing that AfCFTA is the world’s largest free trade area that has the potential to boost Africa’s economic growth by generating jobs and driving industrialization as well as delivering prosperity across the continent.
“We are pleased to receive this support from the Government of the UK, as it ushers us into a partnership for strengthening cooperation related to customs and trade facilitation and trade policy across the African continent,” says Wamkele Mene, Secretary General ,AfCFTA Secretariat
AfCFTA’s success in the region will be a great boost for UK businesses since the trade bloc will be a single continental market, making it easier and more cost-effective for UK businesses to export goods and services across the 54 AfCFTA member states. The impediment of market access barriers will have been dealt with.
“As an independent free trading nation, the UK strongly supports the AfCFTA – the largest free trade area in the world,” adds Anne-Marie Trevelyan.
As the African Continental Free Trade Area is expected to bring 30 million people out of extreme poverty and to raise the incomes of 68 million others , it is also expected to provide new commercial opportunities for businesses across Africa and the globe.
“Our ambition now is to see commercially meaningful trading in ‘Made in the AfCFTA’ products taking place, across the length and breadth of our continent, to create jobs and economic opportunities for Africans, especially women and the youth. We want to make trade easier for the Africans, in particular our women and young Africans who trade across our borders,” reiterates Wamkele Mene