In South Africa, the Minister of Trade and Industry, Souleymane Diarrassouba, inaugurated Côte d'Ivoire National Day on Wednesday, 17 November 2021, at the Intra-African Trade Fair (IATF 2021) in Durban. This event followed the announcement that Côte d'Ivoire will host the 2023 edition of the IATF, which has been ongoing since 15 November 2021.
Minister Diarrassouba expressed the government's gratitude towards the members of the Advisory Committee, highlighting Chief Olusegun Obasanjo, former President of Nigeria, AU Commissioner Albert Muchanga, President of Afreximbank Professor Benedict Oramah, and Jean Louis Ekra, former President of Afreximbank, for selecting Côte d'Ivoire as the host, emphasizing its reputation as a land of opportunity and hospitality.
He praised the high quality of Ivorian products and addressed the status of intra-African trade, which has increased from 5.3% to 16% by 2020, as per African Development Bank data, yet remains modest relative to Africa's resource potential. Diarrassouba emphasized that Côte d'Ivoire contributes significantly to this development, with 23% of its international trade being intra-African. Notably, 43% of its intra-African exports are directed towards Mali and Burkina Faso, while 58% of intra-African imports come from Nigeria, primarily crude oil. Furthermore, 24% of its exports and 26% of its imports are linked to non-ECOWAS African nations, with 59% of exports to South Africa consisting of crude gold.
He highlighted Côte d'Ivoire's commitment to diversifying and boosting foreign trade through the implementation of its National Development Plan (NDP), focusing on enhancing the 7 priority industrial clusters. The 2021-2025 NDP, with a budget of €90 billion, expects a significant contribution of 75% from the private sector.
Minister Diarrassouba called on Ivorian and African entrepreneurs to form mutually beneficial partnerships to strengthen intra-African trade. He reaffirmed Côte d'Ivoire's pride in hosting IATF 2023, which will make it the first ECOWAS and Francophone country to organize this important event, under the leadership of President Alassane Ouattara.
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