The recent 10 per cent tariff imposed by the United States of America (USA) on goods entering that country must compel Africa to accelerate efforts at developing a sustainable continental market, the Secretary-General of the African Continental Area (AfCFTA), Wamkele Mene, has stated.
He said Africa could not rely on markets in other parts of the world for its own prosperity.
Mr Mene made the call in Accra on Saturday, when the AfCFTA Secretariat signed a Memorandum of Understanding (MoU) with the National Bar Association (NBA) of USA.
The objective of the agreement was to enhance collaboration between AfCFTA Secretariat and the USA, promote investment and trade opportunities between Africa and USA, and build capacity for a range of different trade-related areas, including dispute settlement.
Also, through the MoU, members of the NBA would serve as advocates of AfCFTA in the USA.
Mr Mene said in view of the new tariff imposed by the President of USA, Donald Trump, on goods entering that country, Ministers of Trade in AfCFTA member countries would meet in Kinshasa, in Democratic Republic of Congo (DRC) on April 15, 2025, to deliberate and take a decision on the matter.
He said the US tariff should offer Africa the opportunity to consolidate and build a market that would enable the continent to stand on her own “economic feet”.
Mr Mene called on African countries to enhance their economic self-sufficiency and not rely on other markets.
“I believe the President of the USA has given us a wake-up call, and the wake-up call is that we must accelerate our own economic self-sufficiency,” he stated.
The AfCFTA Secretary General urged African countries to take advantage of the AfCFTA with population of about 1.3 billion, combined Gross Domestic Product of $3.4 trillion, and numerous mineral resources to develop a vibrant market.
Mr Mene said apart from the MoU with NBA, AfCFTA Secretariat had signed other agreements with USA Chamber of Commerce, and USA Corporate Council in Africa.
The President of the NBA, Wiley S. Adams, said Africa must be self-reliant and the AfCFTA offered opportunity to achieve that objective.
He said the NBA was proud to sign a MoU with AfCFTA Secretariat, and expressed the hope the partnership would help promote trade between AfCFTA and USA.
Mr Adams explained that the partnership between the AfCFTA Secretariat and the NBA would help to expedite action on resolving trade disputes between the AfCFTA member countries and their counterparts in the USA.
The Chief Executive Officer of the Ghana Investment Promotion Centre, Mr Simon Madjie, lauded the AfCFTA Secretariat for developing a protocol on investment, to harmonise all the investment laws in the AfCFTA member countries.
BY KINGSLEY ASARE
