Sign in with Google 
This article was produced with the support of UN ECA
Your Excellencies, distinguished representatives of Member States, esteemed partners, ladies and gentlemen, it is with great honour and privilege that we extend our warmest welcome to Addis Ababa for the 43rd meeting of the Committee of Experts of the Conference of African Ministers of Finance, Planning, and Economic Development. On behalf of the Government of the Federal Democratic Republic of Ethiopia, we are deeply delighted to host this crucial gathering, which provides a platform for insightful discussions and impactful decisions that will shape the ministerial segment of this conference.
This year’s theme, “Advancing the Implementation of the Agreement Establishing the African Continental Free Trade Area: Proposing Transformative Strategic Action,” captures the urgency and significance of our collective mission. The African Continental Free Trade Area (AfCFTA) is more than just a legal framework; it is a bold and transformative initiative designed to accelerate Africa’s economic integration and growth. The agreement aims to enhance intra-African trade, harmonise policies, and remove barriers that have long hindered economic cooperation across the continent.
The Potential of AfCFTA and Its Strategic Importance
The AfCFTA presents an unparalleled opportunity to reshape Africa’s economic landscape. As the largest free trade area in the world, encompassing 55 countries and over 1.3 billion people, it has the potential to unlock economic prosperity by boosting industrialisation, fostering job creation, and alleviating poverty. The successful implementation of the agreement will contribute significantly to achieving Agenda 2063, Africa’s strategic blueprint for inclusive and sustainable development.
However, realising the full potential of AfCFTA requires deliberate efforts to address existing challenges. These include infrastructure deficits, fragmented policies, financial constraints, and disparities in capacity across member states. Furthermore, ensuring inclusivity in the implementation process is paramount. Women, youth, and small and medium-sized enterprises (SMEs) play a crucial role in African economies and must be integral beneficiaries of the trade agreement. Their active participation will not only drive economic growth but also ensure a more equitable and sustainable future.
Addressing Challenges and Proposing Solutions
Despite the promise of AfCFTA, Africa still faces significant hurdles in achieving seamless economic integration. According to the United Nations Economic Commission for Africa (UNECA) report on regional integration (2024), intra-African trade currently accounts for only 14.4% of total trade on the continent. This figure starkly contrasts with intra-regional trade levels in Europe and Asia, where integration serves as a catalyst for economic prosperity.
The lower levels of trade within Africa are not due to a lack of potential but rather due to systemic barriers such as inadequate infrastructure, high transaction costs, and restrictive trade policies. To address these issues, Africa must invest in robust transport networks, including road, rail, and ports, to facilitate trade. Digital infrastructure is also critical for modernising trade facilitation processes and ensuring efficiency in transactions.
Harmonising trade policies and regulatory frameworks is essential for creating a seamless trading environment. Simplifying customs procedures and eliminating non-tariff barriers will foster a more efficient system, while establishing unified standards for goods and services across the continent will enhance compatibility and ease of doing business. Addressing financing gaps through innovative public-private partnerships will enable the realisation of key infrastructure projects. Regional financial institutions must be empowered to support trade facilitation efforts and offer funding opportunities to SMEs and entrepreneurs.
Ensuring inclusive participation in the AfCFTA is critical. Women, youth, and SMEs must have access to market opportunities and financial resources to drive equitable economic growth. Capacity-building initiatives and skills development programmes should be prioritised to prepare the workforce for the evolving trade landscape. Political stability and security are fundamental to fostering investor confidence and enabling economic cooperation. Regional cooperation to address violent extremism and conflicts must be strengthened to ensure a conducive business environment.
Ethiopia’s Role in Advancing AfCFTA Implementation
As Africa moves forward with the implementation of AfCFTA, Ethiopia stands at the forefront, embracing this historic agreement with the firm belief that enhanced economic cooperation is key to unlocking the continent’s full potential. Ethiopia’s commitment to regional integration is demonstrated through strategic investments in infrastructure, energy, trade, and industrialisation.
Ethiopia has invested significantly in road and rail networks to enhance connectivity. The Addis Ababa-Djibouti railway serves as a vital trade corridor, facilitating the movement of goods and strengthening economic ties across the Horn of Africa. Ethiopia’s participation in the LAPSSET Corridor Project in collaboration with Kenya further underscores its commitment to boosting regional trade logistics.
Ethiopia’s vast hydropower resources, including the Grand Ethiopian Renaissance Dam (GERD), position the country as a leader in regional energy trade. By exporting electricity to neighbouring countries, Ethiopia is fostering economic integration and supporting industrialisation efforts across Africa. The development of industrial parks and special economic zones is attracting investors and fostering value-added production. By reducing trade barriers and promoting local manufacturing, Ethiopia is contributing to a more interconnected and self-sufficient African economy.
Ethiopia is actively working to ensure that women, youth, and SMEs benefit from trade liberalisation. Capacity-building programmes are being implemented to enhance skills development and entrepreneurial opportunities. While challenges remain, including logistical barriers, security concerns, and financing gaps, Ethiopia remains unwavering in its vision of a fully integrated Africa. The country stands ready to work alongside its African brothers and sisters to build a future of shared prosperity, driven by trade, connectivity, and economic collaboration.
The Path Forward: Strengthening Regional Cooperation
While challenges remain, including logistical barriers, security concerns, and financing gaps, Ethiopia remains unwavering in its vision of a fully integrated Africa. We stand ready to work alongside our African brothers and sisters to build a future of shared prosperity, driven by trade, connectivity, and economic collaboration.
A Call to Action
In closing, we extend our deepest gratitude to the United Nations Economic Commission for Africa (UNECA) for its steadfast leadership and to all stakeholders who continue to champion Africa’s development agenda. Ethiopia remains fully committed to supporting the implementation of the AfCFTA and working in solidarity with fellow member states to achieve a united, prosperous continent.
We urge every participant in this forum to take ownership of this transformative initiative. The AfCFTA is not merely a policy framework; it is a legacy that we must nurture for future generations. Let history remember this period as the time when Africa stood united, overcame its economic challenges, and embarked on a path of unprecedented growth, development, and cooperation.
Once again, we extend a warm welcome to all delegates to Addis Ababa, a city rich in history, diplomacy, and pan-African aspirations. We wish you productive deliberations and great success in your endeavours.
