L’importance de la ZLECAF pour l’économie du continent

The importance of AfCFTA for the continent’s economy

AfCFTA Intra-African Trade

The Minister of Trade and Export Promotion, Tayeb Zitouni affirmed, the day before yesterday in Algiers, that the integration of intra-African trade in the African Continental Free Trade Area (ZLECAF) is likely to boost the economies in the African continent.
This declaration was made during a speech by the minister read on his behalf by the Director General of the Algerian Chamber of Commerce and Industry (CACI), Hocine Zaoui, on the occasion of a Forum on Investment in Algeria, organized on June 25 and 26 by the Algerian Investment Promotion Agency in partnership with the African Export-Import Bank (Afreximbank), as part of the 55th Algiers International Fair (FIA2024).
The expected economic progress in Africa requires “better application of the continental free trade agreement while continuing economic reforms to develop the trade and business climate in Africa,” said the minister.
To do this, he added, a new law on investments in Algeria was adopted to “improve the investment system in favor of cooperation and partnership with foreign partners, particularly Africans”.
This law is able to open new horizons for investors and grant them the required facilities, with a view to moving from production to export, in addition to its support for businessmen and foreign companies regarding the transfer of profits.
He further added that “the AfCFTA is more than just a trade agreement, as our visions, horizons and aspirations aim to strengthen ties between the countries of the continent and their peoples.” This is why, he continued, it is necessary to effectively exploit Africa’s reserves of green energy and vital minerals, assets that our African continent can exploit to boost its economies and promote its industrial development.
In the same vein, the minister cited the numerous riches and advantages that Algeria abounds in, making it an “attractive destination par excellence”, recalling its strategic geographical position, being the gateway to African countries, as well as as the structuring projects with a continental dimension launched in Algeria.
Manuel Z.