The ceremony was conducted at the African Development Bank’s Office in Ethiopia as part of the project management component of the Improving trade facilitation in IGAD Region. The project began in 2019 implemented by the Inter-governmental Agency on Development (IGAD) and the Pan African Chamber of Commerce and Industry (PACCI) funded by the African Development Bank (AfDB) under the Africa Trade Fund (AFTRA). The project aims to create and enabling business environment along trade corridors and build on cross border trade between IGAD member states. The pilot phase focuses on the Ethio Djibouti Corridor with the outcomes scaled to other corridors within the IGAD Region.
African Development Bank delivered the office and audio-visual equipment to support the activities of PACCI and IGAD. In his opening remarks, Dr Abdul Kamara – the Deputy Director General of AfDB East Africa Regional Hub (RDGE) and Country Manager- AfDB Ethiopia office stated the project had progressed well despite the challenges brought about by the pandemic. AfDB is supportive of initiatives that drive economic diversification and industrialization. He proceeded to highlight AfDB’s keen interest in supporting the African Continental Free Trade Area by investing in agriculture taking into account Africa’s main sector and the ongoing impact of the Ukraine Russia war on wheat value chain and fertilizer, industrialization and energy projects such as the Industrial Parks in Ethiopia, infrastructure and value addition. He concluded by noting the AfDB is also working on initiatives aimed at the youth as Africa’s workforce will the largest and youngest by 2063. He concluded with the sentiment that for the
AfCFTA to be a realization all stakeholders in different capacities need to be on board to collaboratively support Africa’s Economic integration.
Mr. Kebour Ghenna – Executive Director of PACCI, while receiving the items, recognized the importance of the AfDB’s support as PACCI and IGAD work toward the private and public sector engagement in utilizing the infrastructure and mechanisms being put in place to facilitate Trade between the IGAD member states under the AfCFTA. He indicated the project will seek a no cost extension to implement activities pushed by the pandemic such as the IGAD trade policy, one of the key components of the projects is set to be launched end of July 2022. Mr. Ghenna concluded by highlighting the AfCFTA Advisors program which seeks to facilitate private sector engagement in policy and trade facilitation under AfCFTA.
Published By :- PACCI
Published On:- 4/July/2022