Addis ababa: The African Continental Free Trade Area (AfCFTA) Coordination and Program Secretariat Director, Tsotetsi Makong, has acknowledged Ethiopia’s dedication to fulfilling the objectives of the free trade area. In an exclusive interview, the director highlighted the significant role of the free trade area in promoting intra-African trade and generating employment opportunities.
According to Ethiopian News Agency, Makong emphasized the potential for integrating sectors such as transport, trade, and services within the trade zone to create substantial job opportunities. He praised Ethiopia’s efforts and commitment towards achieving the goals and successes of the AfCFTA.
He noted that countries have shown strong commitment to the implementation of the free trade area, with developments in Addis Ababa under Prime Minister Abiy Ahmed’s leadership being closely monitored. These changes have the potential to generate foreign currency for both Ethiopia and Africa.
Makong further explained that the AfCFTA will open up markets for trade and service sectors, along with employment opportunities. He encouraged businessmen to prepare to take full advantage of the offerings of the free trade area.
The agreement among African countries to promote tax-free trade relations, he noted, will stimulate increased production. Traders, farmers, and investors are poised to expand their output and scale up businesses due to the vast opportunities available. Foreign companies are already beginning operations in various parts of the continent.
Makong also noted that Ethiopian businesses can now invest in other African countries under the AfCFTA’s legal framework, facilitating job creation not only locally but across the continent. He stressed the importance of swift implementation to harness the full potential for job creation, especially with the expectation that by 2050, a significant portion of Africa’s population will be young people.
The director warned that failing to capitalize on the AfCFTA could lead to a shortage of job-creating sectors by 2050. He stated that the AfCFTA is designed to bridge this gap and create jobs by providing opportunities for countries and traders.
The African Continental Free Trade Area Secretariat remains active in coordinating efforts among member countries to ensure effective implementation of the agreement.