Afreximbank, NGF, AfSNET Commit to Smooth Implementation of AfCFTA

Dike Onwuamaeze

The second African Sub-Sovereign Governments Network (AfSNET) conference has affirmed the need for sub-sovereign governments in Africa to institute local mechanisms that would enhance the smooth implementation of the African Continental Free Trade Area (AfCFTA).

The AfSNET, which was convened last month in Abuja, Nigeria by the Nigerian Governors Forum and the African Export and Import Bank (Afreximbank) under the theme “African Sub-Sovereign Governments Network-Championing Africa’s Development,” also observed that enunciating policies on quick wins and areas where sub-sovereign governments have competitive advantage could help to build the early momentum required to optimise gains and opportunities under AfCFTA.

The AfSNET also committed itself to mobilise exhibitors and delegates to participate in the Intra-African Trade Fair (IATF2023), to be hosted by Cote d’Ivoire, and scheduled to take place from November 21-27, 2023.

The conference also called for the development of the technical capacities of the operators of Micro, Small, and Medium Enterprises (MSMEs), to boost their competitiveness and their integration into the intra-African trade value chain.

The communiqué of the AfSNET conference said that the removal of tariff and non-tariff trade barriers, including difficulties in securing visas and travelling within the continent, would be critical to fostering the movement of goods and services across the continent.

The communiqué said: “AfSNET will provide a platform that ensures broad participation of various stakeholders in sub-sovereign governments, including the private sector, MSMEs, women and youth in AfCFTA and increasing grass-root interconnections and involvement through the provision of access to trade and investment information, sharing ideas, knowledge and skills with the ultimate objective of deepening regional economic integration.”