On Wednesday, the Head of Government, Najla Bouden, co-chaired a debate on the theme “Friends of the African Continental Free Trade Area”, with the President of the Democratic Republic of Congo, Félix Tshisekedi, the President of Tanzania, Samia Suluhu Hassan, and the President of the World Economic Forum (WEF), Borge Brende, in the presence of executive directors of major multinationals, including Novartis, Pfizer , Volkswagen and Coca Cola.
Speaking at the debate, held on the third day of the Davos Economic Forum in the Swiss canton of Graubünden, Bouden stressed the importance of the agreement on this continental zone, known by the acronym “AfCFTA”, as it offers opportunities for cooperation between member countries on the one hand, and with strategic partners on the other.
“We must also attach the necessary importance to start-ups, which Tunisia describes as an “innovative model of entrepreneurship”,” she asserted, highlighting Tunisia's global economic approach, which is keen to take account of the social dimension, with regard to job creation and the preservation of stability.
She pointed out that Africa's young people have a key role to play in the continent's development, calling on international companies to help achieve Africa's development goals, and to open up job opportunities in a win-win partnership that could help combat illegal immigration.
She reviewed the advantages and incentives in place in Tunisia to promote foreign investment in various promising, value-added sectors, including pharmaceuticals, renewable energies, automotive components, aeronautics and the knowledge economy in general.
According to the Economic Commission for Africa (UNECA), implementation of the AfCFTA could increase intra-African trade by 52.3%, by eliminating import tariffs, and even double it, if non-tariff barriers are reduced.
According to the UNECA, the AfCFTA should play a significant role in revitalizing African economies, by reducing the fragmentation of African markets and supporting national development strategies in the medium and long term, as well as strengthening countries' resilience to future shocks.
For the World Bank, implementation of the AfCFTA could increase regional income by 7% (or $450 billion), accelerate the rise in women's earnings, and lift 30 million people out of extreme poverty by 2035.
Credit : AFRICAN MANAGER