The Intra-African Trade Fair (IATF2021) kicked off with spectacular fanfare on 15th November. Under the theme \u201cBuilding Bridges for a successful AfCFTA\u201d, the fair attracted thousands of visitors at the Durban International Convention Centre on its Opening Day.<\/p>\n
In a formidable demonstration of pan-African leadership support for the Intra- African Trade Fair, underscoring its importance and beneficial impact in driving dramatic trade growth and investment across Africa, its opening ceremony was addressed by seven African Heads of States: Cyril Ramaphosa, (South Africa); Muhammadu Buhari, (Nigeria); Former President Olusegun Obasanjo, Chairman of the Advisory Council of IATF; Hakainde Hichilema, (Zambia);\u00a0 Lazarus Chakwera, (Malawi); and\u00a0 Emmerson Mnangagwa (Zimbabwe). Hussein Mwinyi representing Samia Suluhu Hassan, (Tanzania); and Rt Hon. Edouard Ngirente, (Rwanda Prime Minister), attended the event representing Paul Kagame.<\/p>\n
Cyril Ramaphosa, President of the Republic of South Africa, declared in his keynote address that South Africa is ready to work with other African countries to drive more balanced, equitable and fair-trade relations for the benefit of the continent. \u201cThis Trade Fair is about building bridges. It is about connecting countries<\/p>\n
. It is about connecting people as well. Now Africa is taking concrete steps to write its own economic success story and this Intra-African Trade Fair is part of that story.<\/p>\n
Africa is opening up new fields of opportunity\u201d he asserted. President Ramaphosa also wants to see more made in Africa labels, as \u201cthis is critical if we are to change the distorted trade relationship that exists between African countries and the rest of the world. We can no longer have a situation where Africa exports raw materials and imports finished goods with those materials. By promoting trade in Africa, we strengthen our own industrial base and produce goods for ourselves and for each other.\u201d<\/p>\n
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Muhammadu Buhari, President of the Federal Republic of Nigeria, commented that: \u201cToday is a great day for Africa as we start our collaborative journey towards collective economic prosperity. We cannot achieve this goal by talking alone. The implementation, the difficult journey and the challenges are surmountable if both public and private sectors collaborate. On the public sector side, governments must support local entrepreneurs to build scale, and therefore improve productivity.\u201d He added that \u201cthe African Continental Free Trade Area must make the effort to ensure that Africa must be a marketplace where no country is left behind, we must ensure that we create jobs and enhance revenues for all parties.\u201d<\/p>\n
Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, the event\u2019s promoters, said in his opening keynote address that the IATF2021 is a demonstration of Africa\u2019s defiance of the dark clouds gathered by the Covid-19 pandemic, and that, in the words of Ghana\u2019s founding President Kwame Nkrumah, the convergence of Africans to chart the Continent\u2019s trade and investment future, is a departure from the colonialists\u2019 intention of partitioning the Continent along physical boundaries stretching over 87,000km, not for the benefit of Africans, but for their own. Prof. Oramah remarked that \u201cthe stimulation of economies isn\u2019t about trade, it’s about job creation and holistic economic recovery backed by political support. It offers a comprehensive solution – it is not just a trade fair.\u201d\\<\/p>\n
Lazarus Chakwera, President of the Republic of Malawi, said: \u201cTo make intra-African trade a reality, we must make our border procedures intra-African, our transport infrastructure intra-African, our bus and airline routes intra-African, electricity distribution intra-African, our fibre and broadband connectivity intra-African, our investment intra-African, our industrialisation and urbanisation intra-African and our shops intra-African. Africa cannot be a free trade area until us Member States remove the obstacles that hinder Africans from trading freely.\u201d<\/p>\n
Sihle Zikalala, Premier of the host province, KwaZulu-Natal commented in his welcome statement that: \u201cFellow African compatriots, the growth of any African country is intertwined with the development of the rest. It is intertwined and inseparable. African countries must stop thinking that they will survive on crumbs of colonialism and try to define themselves individually at the expense of others. As KwaZulu-Natal, we are inspired to host this historic Trade Fair, for we believe it will enhance trade within the continent and build production capacity. We must end a colonial legacy where Africa\u2019s raw minerals continue to enrich advanced and industrialised countries while the continent remains poor.\u201d<\/p>\n
Mr. Wamkele Mene, Secretary-General of the African Continental Free Trade Area Secretariat, observed: \u201cThe next wave of investment in African markets must focus on productive sectors of Africa\u2019s economy in order to drive the continent\u2019s industrial development in the decades to come.\u201d<\/p>\n
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Ambassador Albert M. Muchanga, Commissioner for Trade and Industry, African Union, said that in the medium term the vision is to transform the Intra-African Trade Fair brand \u201cinto a self-financing special purpose vehicle, which will be owned by all African Union Member States, and Pan African financial institutions.\u201d<\/p>\n
Other special remarks were given by: Hakainde Hichilema, (Zambia); Rt. Hon. D Edouard Ngirente, (Prime Minister Rwanda);\u00a0 Hussein Mwinyi, (representing Samia Suluhu Hassan, Tanzania), and\u00a0 Emmerson Mnangagwa, (Zimbabwe).<\/p>\n
The event which runs through to 21st November is expected to close upwards of US$40billion worth of deals signed and is being attended by over 1,100 entities exhibiting their goods and services to over 10,000 delegates, visitors and buyers from over 95 countries from the continent and beyond.<\/p>\n
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Of significance is the introduction of an automotive forum, having appreciated the role played by the industry in spurring trade and investment. A vibrant automotive sector would impact on the rubber and other raw materials industry, thereby infusing rapid development for the other supporting sectors.<\/p>\n
And in recognition of the potential of the youth in the Continent, this year\u2019s event will have a designated youth agenda – African Youth Startup \u2013 where a one stop pavilion will provide information for the youth on necessary business startup knowledge as well as hold their hands. More than 300 youth carefully selected from the whole of Africa are participating in the pavilion because the Youth are the continent\u2019s future for investment trade and development<\/p>\n
Of note though are two main introductions initiatives aimed at spurring investment and trade in the continent: The Creative Nexus Africa which will allow visitors and exhibitors alike, to experience work from some of the finest creative minds in the continent, get inspired and excited, and see just how their vision could create connection and transform the trade and investment frontier for the continent that bursts with bundles of untapped talent.<\/p>\n
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The Intra-African Trade Fair (IATF2021) kicked off with spectacular fanfare on 15th November. Under the theme \u201cBuilding Bridges for a successful AfCFTA\u201d, the fair attracted thousands of visitors at the Durban International Convention Centre on its Opening Day.<\/p>\n","protected":false},"author":4,"featured_media":323922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-323921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n