Ethiopia’s Official Stresses Need for Greater Collaboration to Unlock AfCFTA’s Potential

Addis Ababa, March 12, 2025 (ENA) --- Ethiopia’s Finance State Minister stressed the need for innovative solutions, greater collaboration, and investments in infrastructure development and energy to unlock the African Continental Free Trade Area (AfCFTA’s) potential.

The 43rd Committee of Experts meeting of the Conference of African Ministers of Finance, Planning, and Economic Development opened today in Addis Ababa to shape strategies for advancing the African Continental Free Trade Area implementation.

The meeting that brought together policymakers and experts to discuss strategies for advancing the implementation AfCFTA focuses on the theme: “Advancing the Implementation of the Agreement Establishing the African Continental Free Trade Area: Proposing Transformative Strategic Action.”

Ethiopia’s State Minister of Finance Semereta Sewasew in her opening remarks emphasized Africa's vision for intra-Africa trade development and shared prosperity through the African Continental Free Trade Area.

The State Minister acknowledged significant challenges for the realization of the Continental Free Trade Area such as infrastructure gaps, fragmented policies, financing constraints, and security concerns.

To unlock the AfCFTA's potential, Semereta stressed the need for innovative solutions, greater collaboration, and investments in infrastructure development and energy.

She highlighted the importance of inclusivity, particularly for women, youth, and small and medium-sized enterprises, urging collective action to ensure the AfCFTA becomes a transformative tool for tangible economic progress across the continent.

Furthermore, the State Minister pointed out that AfCFTA’s capacity to boost industrialization, job creation, and poverty reduction while addressing challenges such as financing constraints and policy fragmentation remain priority.

The State Minister called for the need for in trade policy harmonization, and regional integration.

She highlighted Ethiopia’s experience noting that the country has made significant strides through investments in road and railway transport networks with neighboring countries, renewable energy development and dissemination in the region, and industrial parks development.

The State Minister reaffirmed Ethiopia’s commitment to regional economic integration. She reiterated that Ethiopia remains committed to enhancing regional connectivity and integration by focusing on economic growth and infrastructure development.

Deputy Executive Secretary of the Economic Commission for Africa (ECA), Antonio Pedro for his part highlighted the importance of discussing African Continental Free Trade Area to take it forward for implementation.

The Deputy Executive Secretary pointed out the challenges and actionable recommendations for the implementation of AfCFTA.

The experts’ meeting is a key technical event that provides policy recommendations to the annual Conference of African Ministers of Finance, Planning, and Economic Development to be held from March 17-18/2025 in the same venue.

The meeting, attended by representatives of ECA member states, regional institutions, and partners will continue over the coming days to develop actionable strategies for AfCFTA implementation.