Moroni — In support of the efforts to ratify the African Continental Free Trade Area (AfCFTA) Agreement and build the capacity of the Comoros to benefit from the opportunities offered by a market of 1.2 billion people, a national sensitization workshop was held on 18 and 19 October in Moroni, Comoros.
H.E Mr. Azali Assoumani, President of the Union of Comoros, in his opening statement, stated that AfCFTA is in fact a new model of Africa's development which is inclusive, sustainable and stand ready to efficiently serve African citizens. He further said that the agreement creating a common African market has been signed by 54 countries since March 2018 in Kigali, Rwanda with now 28 countries ratifying the agreement and expressed his hope that Comoros will be among the very next countries that will ratify the agreement.
Mr. Houmed Msaidie, Minister of Economy, Investments, and Energy further said: "Comoros should not remain on the margins of globalization and the dynamics of regional economic integration but take into account its specificities and be part of a global dynamic..." and added that insularity, far beyond vulnerability and fragility, offers challenges and opportunities. Taking this into account is part of a vision of sustainable development for small island economies, ensuring the preservation of the richness of biodiversity and building governance based on predictable climate change and disaster risk management.
On his part, Mr. Melaku Desta, Principal Regional Advisor of ECA, explained what makes the AfCFTA Agreement significant and different, namely, the powerful economic logic of integration that would drive Africa's industrialization. This will happen due to the potential of an increasingly integrated continental market and the accompanying political and geo-strategic benefits that would emerge through an innovative model of integration.
He further said that ECA, in its efforts on translating ideas to actions, is currently working on an AfCFTA-anchored pharmaceuticals project which aims to advocate for local production of maternal and child care medicines and products, pooled procurement of such products in Small Islands Developing States (SIDS) which will include the Union of Comoros.
The workshop concluded emphasising the need for the Union of Comoros to: a) ratify the AfCFTA agreement without delay, b) develop a national strategy exploring the comparative and competitive advantages of the Comorian economy, as well as the potential risks and losses associated with the AfCFTA, c) actively involve the private sector, civil society, youth and women in the implementation of the AfCFTA.
The Ministry of Economy, Investment and Energy is an active collaborator with ECA in conceptualising a national AfCFTA response strategy and, subsequently, operationalising the AfCFTA in the Union of Comoros. They are determined to implement change that would emanate from the strategies and looking forward to a national validation workshop in the next few months.
This workshop is part of a more extensive project aimed at providing support to SIDS in light of their greater involvement with the African continent through the free trade area. Financially supported by the European Union, ECA has been working with its partners including the African Union Commission (AUC) on the SIDS project. Other partners, such as, the International Trade Centre (ITC), United Nations Conference on Trade and Development (UNCTAD) and a selection of independent trade experts are also involved to ensure effective AfCFTA implementation strategies.
For more information contact
Communications Section
Economic Commission for Africa
PO Box 3001
Addis Ababa
Ethiopia
Tel: +251 11 551 5826
E-mail: eca-info@un.org; afeworks@un.org
