AU, UN agencies meet in Kenya to boost intra-Africa trade-Xinhua

AU, UN agencies meet in Kenya to boost intra-Africa trade

Source: Xinhua| 2023-01-21 01:14:45|Editor: huaxia

NAIROBI, Jan. 20 (Xinhua) -- The African Union (AU), the continent's eight regional economic blocs, and development partners, including UN agencies, ended a three-day meeting in the Kenyan capital of Nairobi on Thursday to review ways to boost intra-Africa trade.

The event brought together over 150 delegates to discuss modalities of sustainable financing of trade amongst African countries.

In his closing remarks, Chairperson of the AU Commission Moussa Faki Mahamat said increasing intra-trade in Africa is one avenue to boost the resilience of the continent.

Faki added that the value addition of local resources will also expand cross-border trade in Africa.

He observed that Africa, which has one of the largest free trade areas with a market of about 1.2 billion population, is poised to create an entirely new development path.

East African Community Secretary-General Peter Mathuki said the level of intra-Africa trade currently is largely untapped. "Trade amongst African nations will generate more employment opportunities for residents in the continent."

Antonio Pedro, acting executive secretary of the United Nations Economic Commission for Africa, said intra-Africa will play a role in the continent's economic recovery and promote industrialization and economic diversification.