16th Council of AfCFTA Convene for High-Level Economic Talks

(The Post News)– The 16th Council of Trade Ministers of the African Continental Free Trade Area (AfCFTA) is scheduled to take place in Kinshasa, Democratic Republic of the Congo, on Tuesday, April 15.

The purpose of the meeting is to further the implementation of the AfCFTA, a historic deal that intends to increase intra-African commerce by allowing the free flow of capital, people, products, and services throughout the continent. This event is in line with Agenda 2063 of the African Union, which highlights the significance of commerce and industry in accomplishing Africa’s development objectives.

The DRC’s General Secretary of Foreign Trade, Jules Muilu Mbo, highlighted the importance of the next talks, calling them a “decisive turning point” for the implementation of the AfCFTA. He emphasised the significance of creating practical plans to deal with issues including building regional value chains, diversifying African economies, and enhancing infrastructure. Mbo added that lowering trade and investment restrictions will make Congolese goods more competitive on the market.

Given the difficulties African nations experience in international trade, the timing of the gathering is especially relevant. The dynamics of international trade have become more difficult as a result of President Donald Trump’s recent tariff initiatives. President Trump declared in February that unless a thorough examination of South Africa’s land expropriation legislation is finished, the US would stop providing any more funding to the nation. Diplomatic difficulties resulted from his criticism of South Africa’s treatment of specific ethnic groups. The African Growth and Opportunity Act (AGOA), a trade pact that has given many African countries duty-free access to the U.S. market, has come under scrutiny due to these developments.

South African Trade Minister Parks Tau acknowledged the challenges posed by these tariff measures. He noted that while talks are scheduled for June or July regarding a new trade pact, the expiration of AGOA in September adds urgency to the discussions. In order to lessen the effect of the tariffs on its economy, Minister Tau added that South Africa is looking into other markets.

By emphasising regional trade agreements and lowering dependency on external markets, the Kinshasa summit is anticipated to tackle these external issues. The AfCFTA intends to build a more robust and self-sustaining economic environment for the continent by boosting intra-African trade.