The African Development Bank Group and its organizational partners presented a strong argument for speeding up theAfrican Continental Free Trade ZoneAt the launch of the 11th Edition of the Assessing Regional Integration in Africa (ARIA XI) report, (AfCFTA) was highlighted. The African Continental Free Trade Area, signed by 54 African nations and currently functioning in its early stages, marks a significant move toward establishing a cohesive African market.
The event occurred on Saturday, July 12, in the capital city of Equatorial Guinea, Malabo.
It carried the theme: "Implementing the African Economic Community: Moving towards an African Continental Customs Union and African Continental Common Market."
The gathering highlighted the significance of Africa's unification, portraying it as a pressing requirement and a route to progress that the continent must not postpone.
The Director of the African Development Bank Group responsible for Regional Integration Coordination, Dr. Joy Kategekwa, highlighted that integration is the sole effective path towards substantial industrial growth and widespread economic advancement across the continent.
"The integration of Africa is a necessary path for development, and with this in mind, all of us gathered at this table are urged to consider—can we bear the cost of failure?" she stated in comments representing the Bank.
"The AfCFTA, as a free trade area, does not offer the legal framework for handling interactions with third countries—those not part of the agreement," she stated, noting that only a customs union can establish a common external tariff and unified trade policy to safeguard Africa's internal market.
Besides roads and rail networks, the African Development Bank is funding initiatives in information and communication technology, energy, water supply, and trade financing to enhance links among African economies and boost internal African trade.
"But it goes beyond constructing infrastructure—it also involves promoting production. In the end, it's about giving people more money by fully involving them in the integration process," Dr. Kategekwa concluded.
The African Union Commission referred to the AfCFTA as a "significant achievement" in Africa's path towards economic integration, as outlined in the 1991 Abuja Treaty.
"To fully harness the potential of our continent for inclusive growth and sustainable development, we need to now speed up our initiatives toward an African Continental Customs Union and a Common Market," stated Moses Vilakati - AU Commissioner for Agriculture.
He advocated for the removal of current obstacles and the alignment of national and regional policies to build a more robust and stable African economy capable of standing out in the global market.
Representing Claver Gatete, the Executive Secretary of the United Nations Economic Commission for Africa (ECA), Aboubakri Diaw praised the report as far more than a mere research paper.
"ARIA XI is more than just another report about Africa's integration—it serves as a forward-thinking, well-researched, and actionable policy instrument aimed at strengthening the continent's integration and boosting its competitiveness within an ever-evolving global geopolitical environment," Diaw stated.
He called on African leaders and organizations to fully commit to executing the AfCFTA and to take courageous steps in creating a customs union and single market.
Striving for unity as a means of endurance and success Cooperation as a method for existence and advancement Unification as a tactic for continuation and growth Collaboration as a plan for survival and wealth Fusion as a technique for persistence and flourishing Combining efforts as a way to thrive and succeed Harmonization as a pathway to survival and progress Alliance as a scheme for endurance and prosperity Convergence as a strategy for staying alive and thriving Union as a plan for survival and economic growth
ARIA XI, created as a result of cooperation among the AfDB, AUC, and ECA, provides that plan—and its suggestions, if put into action, have the potential to significantly transform Africa's economic scene for many years ahead.
A notable feature of the event was a panel conversation titled "The Role of Regional Economic Communities (RECs) in Enhancing Africa's Integration: The Path to the African Economic Community."
Participants featured Dr. Omar Alieu Touray, head of the ECOWAS Commission; Ambassador Gilberto Da Piedade Verissimo, leader of the ECCAS Commission, and H.E El Hadji Abou, Executive Secretary of the Community of Sahel-Saharan States (CEN-SAD).
Kategekwa encapsulated the essence of the report and the conversations surrounding it:
We are not only bold enough to dream when discussing how we establish the African Economic Community," she stated. "We discuss the unique aspects of our approach.
Get the complete ARIA XI report:https://www.aria-report.org/
Copyright 2025 African Development Bank. All rights reserved. Distributed by AllAfrica Global Media (https://www.mountaintravel.my.id/).
Tagged: Economy, Business and Finance, Africa, Trade
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