Welcome to the
AfCFTA Business Forum 2022
Background
The AfCFTA establishes Africa as the world’s largest free trade area in terms of participating countries, bringing together 55 countries with a combined GDP of $3.5 trillion and a market of 1.4 billion consumers. It aims to boost intra-African trade, raise Africa’s trading position on the global market, and accelerate economic growth, industrialization, production, and job creation.
The AfCFTA achievements recorded to date, including completion of phase I of the AfCFTA and components of phase II covering Trade in Goods, Trade in Services, the Dispute Settlement Mechanism, Investments, Competition Policy, and Intellectual Property Rights, provide countless trade and investment opportunities for the private sector to capitalize on. The Digital Trade protocol which is expected to be concluded in July 2023, shall establish the appropriate regulatory framework for new market opportunities in the digital economy.
The protocol on Women and Youth in Trade, which is also expected to be concluded in July 2023 is an important instrument for achieveing inclusive benefits in the AfCFTA market.
To accelerate the implementation of the AfCFTA and activate trade and investments opportunities, the AfCFTA Secretariat, in collaboration with the Government of South Africa, is convening the AfCFTA Business Forum underthe patronage of H.E. President Cyril Ramaphosa.The forum is scheduled to take place 8 to 10 March, 2023, in Cape Town, South Africa.
Focus Sectors
Objectives
- Create awareness of the current business and investment opportunities in the AfCFTA among Africa’s business community;
- Connect businesses to funding opportunities for AfCFTA value chains;
- Establish a private sector engagement platform for continued consultations on private sector needs in the implementation of the AfCFTA;
- Promote a private sector-friendly environment, especially for MSMEs led by Women and Youth, to unlock more accessible and affordable access to finance and markets.
