Swakop summit highlightsfree African trade

President Netumbo Nandi-Ndaitwah has urged Namibian business leaders to actively familiarise themselves with the Africa Continental Free Trade Area so they can expand and trade beyond the country’s borders. She was addressing the Africa Economic Leadership Council’s Invest in Africa Trade Expo and Business Summit held at Swakopmund from 28 to 30 May. In a speech read on her behalf by minister of international relations and trade Selma Ashipala-Musavyi, the president said with global tension and uncertainty, there is a new scramble for African mineral resources with only 16% intra-Africa trade.

“Africa is a continent that does not trade with itself,” she said. A major focus of the summit, one of Africa’s most influential economic gatherings, has been the role of the Africa Continental Free Trade Area (AfCFTA) in reshaping Africa’s economic future by promoting intra-African trade, industrial integration, and value-chain development. The conference brought together over 200 policymakers, investors, and micro, small and medium enterprise delegates to promote domestic investment and unlock the intra-African trade opportunities presented by the AfCFTA.