The African Continental Free Trade Area (AfCFTA) Secretariat and Trademark Africa (TMA) joined forces on Friday with the signing of a new partnership aimed at upgrading trade infrastructure throughout the African continent. During the ongoing Africa Prosperity Dialogue in Accra, Ghana, the Secretary General of AfCFTA, Wamkele Mene, praised the agreement as a critical step in reducing transit trade time and cost.
Mene expressed hope that the partnership between AfCFTA and TMA will increase the competitiveness of all countries within the African Continental Free Trade Area and bring the vision of a fully integrated African market closer to reality. He also acknowledged the success of TMA in the introduction of digital trade facilities in East Africa and the Horn of Africa region.
Erastus Mwencha, board chairman of TMA, stated that the partnership will allow the private sector player to expand its impactful programming and support the AfCFTA in unleashing the immense potential of free trade in high-value products on the continent. The company will focus on facilitating the development of digital and green trade corridors, promoting inclusive trade that drives down poverty levels, and integrating vulnerable groups into the trading systems.
As part of its rebranding effort, TMA has expanded its operations into West Africa, with the goal of modernizing physical and virtual trading corridors and increasing the efficiency and competitiveness of African trade. Mwencha emphasized that the partnership between AfCFTA and TMA represents a huge step forward in trade facilitation, and that the benefits of the collaboration are immense.
In conclusion, the partnership between the African Continental Free Trade Area and Trademark Africa represents a significant step in modernizing trade infrastructure throughout the African continent and improving the competitiveness of African trade. The ultimate goal is to position Africa as a partner of choice for global off-takers, promoting inclusive trade and driving down poverty levels on the continent.
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