29 Apr Using AfCFTA to boost food security in Morocco
Any country that closes its doors to social, economic, and other forms of interaction with others thrives on self-deceit; its citizens and economy would be limited because no country can exist and excel in isolation.
African countries including Morocco have had long-standing histories of different forms of trade relations within and outside the shores of the continent but some of these relations were fraught with lack of transparency, red-tapism, restrictions, and other impediments while some were outright exploitation of the people.
To offer value in trade and position Africa to adequately respond to the challenges confronting the continent, the African Union brought on board the African Continental Free Trade Area, AfCFTA to strengthen the intra-Africa trade relations, ensure food security and meet the food demand of citizens.
The Secretary-General of AfCFTA, H.E. Wamkele Mene while addressing the Council of Ministers responsible for trade in 2020 reiterated that the AfCFTA is not just a trade agreement but a development instrument and urged for its speedy implementation.
He said, “It is projected that when we successfully implement the agreement, we will lift about 100 million Africans out of poverty and we would boost intra-Africa Trade by $35- 40 billion annually; increase value chain development in all sectors; enhance the competitiveness of industry economies of scale; reduce the trade deficit by 50.6%; increase level of investment in various sectors, create decent jobs and improve SME development and create employment.”
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