What:5th Session of the Council of Ministers in charge of the African Continental Free Trade Area (AfCFTA).
When: Monday 03th of May 2021
Who: The AfCFTAMinisters responsible for Trade will be having their 5thCouncil of Ministers meeting, taking place on Monday 03rd May 2021.
Where: Accra- Ghana Labadi Beach Hotel
The meeting will start with opening remarks by the Chairperson of the Council of Ministers responsible for Trade, Minister Ebrahim Patel.
After the closing ceremony, a Press Conference will be held Online on Tuesday 04 May 2021
The African Continental Free Trade Area (AfCFTA), the world’s largest free-trade area, started trading on 1 January 2021, creating a market of 1.2 billion people and a combined GDP of $3 trillion. The AfCFTA Secretariat is committed to promote trade as a stimulus for Africa’s socioeconomic recovery from the COVID-19 crisis.
The Institutional framework for the implementation, administration, facilitation, monitoring and evaluation of the AfCFTA consist of the Assembly, the Council of Ministers, the Committee of the Senior Trade Officials and the Secretariat.
The Assembly, as the highest decision-making organ of the AU, shall provide oversight and strategic guidance on the AfCFTA and shall have the exclusive authority to adopt interpretations of this Agreement, on recommendation of the Council of Ministers in charge of the AfCFTA.
The Council of Ministers takes decisions, in accordance with the Agreement, to ensure effective implementation and enforcement of the AfCFTA. Their objective is to promote the Agreement and its relevant instruments, through collaboration with all relevant organs and institutions of the African Union. They also aim at harmonizing appropriate policies, strategies and measures for the effective implementation. They also serve as a supervising body of all its subsidiary bodies such as the ad hoc or standing committees, working groups or expert groups.
The council of Ministers also considers reports and activities of the Secretariat to, then, propose them for adoption by the Assembly. They also consider the structure, budget and work program of the AfCFTA to, then, submit them to the Assembly through the Executive Council.
This 5th Session of the Council of Ministers is going to consider the report of the Secretary General, the report of the 7th Meeting of the Committee of Senior Trade Officials and the candidacy for UNIDO Director General position of Dr. Arkebe Oqubay.
Note to editors
About the African Continental Free Trade Area
The African Continental Free Trade Area (AfCFTA) is a flagship project of Agenda 2063 of the African Union. Its overarching objective is to boost intra-Africa trade; deepen the economic integration of the African continent, and create a single market. It will in this way contribute to Agenda 2063 and the fulfilment of the UN Sustainable Development Goals.
The AfCFTA aims to improve trade between African countries by facilitating, in a phased manner, the movement of goods, services, investment and people across the continent. This will enhance competitiveness of African countries in the global market, while encouraging industrial development through diversification. Ultimately, the AfCFTA’s aims to be the engine of industrialisation and economic transformation for the continent.
Join the conversation@AfCFTA, #OneAfricanMarket
For more information on the AfCFTA please contact: Grace Khoza
For more media inquiries please contact:
Ms. Faith Adhiambo, African Union / email@example.com