Eritrea Stands at the Forefront of Industrialization Discussions with AfCFTA Delegation
Asmara, 01 November 2024 – In a significant move towards enhancing the continent's economic landscape, President Isaias Afwerki of Eritrea hosted a high-profile delegation from the African Continental Free Trade Area (AfCFTA) today in Adi Halo. Led by Secretary General Mr. Wamkele Mene, the discussions centered on Africa's transformative potential for industrialization and the importance of integrated efforts across nations.
President Isaias energetically spotlighted the potential of African countries to utilize their rich natural resources and vibrant human capital to fuel an era of extensive industrialization. He articulated a vision where Africa would transition from exporting raw materials to producing and exporting processed goods, a crucial step towards sustainable economic growth. “We need to invest in our infrastructure,” he remarked, emphasizing its pivotal role in fostering an environment conducive to free trade across the continent.
Further delving into the challenges faced by African nations, the President outlined the delicate balance between maintaining independent policies and navigating the complex landscape of international financial support. He advocated for the establishment of cohesive African financial institutions backed by updated regulations and innovative trade modalities. These entities, he reiterated, could drive collaborative projects aimed at harnessing specialized expertise, ultimately paving the way for shared prosperity.
The discussions were not just theoretical; Secretary General Wamkele Mene reiterated the AfCFTA’s commitment to empowering African nations through concrete actions. He expressed optimism about Africa’s industrialization journey, highlighting the urgency of early steps to initiate impactful changes. “While we might not be fully prepared, taking proactive measures now will accelerate our progress,” he noted.
Additionally, the delegation had the chance to witness Eritrea’s irrigation farming project, which represents a model of sustainable agricultural practices that can be replicated across the continent. This visit underscores the mutual interests both Eritrea and the AfCFTA share in working towards a prosperous and interconnected Africa.
Overall, the dialogue between President Isaias and Mr. Mene not only illuminates the path toward enhanced free trade in Africa, but it also highlights the harmonious spirit of collaboration that is essential for the continent’s growth. With such engagements, Eritrea is well-positioned to play a vital role in the unfolding narrative of Africa’s economic transformation.
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