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‘Africa is open for business,’ says Ramaphosa

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Economists have lauded the five-day Intra African Trade Fair 2021 – officially opened by President Cyril Ramaphosa in Durban on Monday.

President Cyril Ramaphosa said South Africa wants the UN to"put the issue of reparations for victims of the slave trade on its agenda". Picture: Flicker/GCIS

This despite AfCFTA having not gone far enough to ignite the much-anticipated intra-trade and economic growth in Africa.“It is about tourism and transport services that can be delivered. “It is estimated that this agreement will connect 1.3 billion people with a possible combined gross domestic product valued at $3.4 trillion or about R51.7 trillion,” said Baur.

Baur added that this does not mean Africa will set prices or dictate policy, “but collectively, through better negotiations, will be in a position to manage environmental factors better”.In his opening address, Ramaphosa said on 1 January, the AfCFTA started trading, “making this Trade Fair the first to take place since we reached the most significant milestone in our quest for African economic integration”.

He said Africa was open for business. “Since ancient times, trade has been the engine that connected communities both near and far,” he said.

 

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