The Executive Secretary of the Economic Commission for Africa (ECA), Vera Songwe, today urges Nigeria to join the movement of the African Continental Free Trade Agreement (CAFTA) after appropriate consultations and offers the ECA support to join South Africa and the other 48 countries already signatories to the CAFTA.
Speaking at a symposium organized by ECA to celebrate the work and life of his former Executive Secretary, Prof. Adebayo Adedeji, Ms. Songwe said some countries did not sign the ZLECA in Kigali, Rwanda, three months ago because they prefer to undertake internal consultation processes first.
. At the recent African Union Summit in Nouakchott, the capital of the Islamic Republic of Mauritania, South Africa, Namibia, Sierra Leone, Lesotho and Burundi joined the 44 countries already signatories to the CAFTA, One of the goals is to create a single continental market for goods and services, thereby promoting trade between African countries.
Speaking of Prof. Adedeji, Ms. Songwe says, “I think his dream of an Africa negotiating with itself, an Africa where economic integration is realized because it is important; because it’s a need and is finally on our doorstep. ”
“If there was to be a legacy that CEA could have left to Prof. Adedeji is really about continuing to work for the ZLECA. We hope that Nigeria will join us as we work to conclude the Continental Free Trade Agreement. It’s really Africa’s legacy. ”
She says the creation of the ZLECA is a monumental task that will change the face of Africa.
“The rest of the world is watching us and they are not indifferent to Africa coming together as an economic powerhouse. That’s what Professor Adedeji really wanted, that Africa finally ends up at the negotiating table with 1.2 billion people and says that’s the way Africa wants to negotiate, “says Songwe.
She added that the African Union Commission (AUC), ECA and the African Development Bank (AfDB) are discussing “what would be the architecture of an economically negotiating Africa”.
The head of ECA urges African countries to diversify their economies by saying that this will change the situation enormously on the continent.
“We have to move to diversification. Economic transformation is important and economic diversification is even more important, “says Songwe.
“If today Europeans trade between them at 60%, it is because they have diversified enough to be able to trade with each other”.
She says that African countries do not trade enough with each other simply because their economies continue to depend on exporting one or a few commodities or primary commodities such as oil and cocoa.
“We can diversify our economies and make sure we start trading more with each other. This is the legacy that Professor Adebayo left us. It has left us the economic transformation and now we are moving towards diversification. We must value our knowledge, “says the Patroness of ECA, adding that the continent must also value its knowledge.
The many people who attended Professor Adedeji’s Symposium, commemorated him as a staunch and courageous advocate for regional integration in Africa that pushed Africa’s development agenda, whenever the opportunity arose.
