Round Table Discussion On 'African Continental Free Trade Area' Held

The African Missions in Pakistan, in collaboration with the Centre for Afghanistan, Middle East & Africa (CAMEA) at the Institute of Strategic Studies (ISSI), organized a Round Table Discussion on African Continental Free Trade Area (AfCFTA)

ISLAMABAD (UrduPoint / Pakistan Point News - 8th Jun, 2023 ) :The African Missions in Pakistan, in collaboration with the Centre for Afghanistan, middle East & Africa (CAMEA) at the Institute of Strategic Studies (ISSI), organized a Round Table Discussion on African Continental Free Trade Area (AfCFTA).

The Heads of African Missions in Pakistan and Heads of Pakistan Missions in Africa also spoke on the occasion. Senior Officers from the Foreign Office and Ministry of Commerce, academics, area specialists and members of the business community and students participated in the event.

In his keynote address, the Dean of the African Group/Ambassador of Morocco, Mohammad Karmoune, said that Africa had a significant role to play in driving inclusive growth and sustainable development globally.

"AfCFTA is the common will of the 54 African countries to build a common market for goods and services, unlock the potential for the development of the Continent, and increase the inter-state trade among African countries," the Envoy added.

He stressed that the main objective of AfCFTA was the Continent's economic integration and development. While talking about Pakistan, he said that business communities from Africa and Pakistan can collaborate in order to benefit from numerous opportunities on the Continent.

He said that the implementation of the AfCFTA will undoubtedly unveil an excellent potential for further growth in Pakistan-Africa trade and economic relations.

Director General ISSI Ambassador Sohail Mahmood, in his welcome remarks, stated that for several years now, Pakistan's engagement with Africa continued to grow steadily.

In this regard, the "Engage Africa" policy being pursued by Pakistan seeks to expand its diplomatic footprint in Africa and forge a robust economic partnership with the Continent.

He added that as the process of integration and economic development accelerates in Africa, there are vast opportunities to be tapped for both African nations and their international partners including Pakistan.

Director CAMEA Amina Khan, while giving her views, said that AfCFTA represented significant growth potential for the African economy, as it establishes a structure for fostering regional economic integration, growth, and progress throughout the Continent.

The agreement has the potential to offer Pakistan fresh avenues to enhance its trade and investment connections with African nations, thus generating business and reinforcing economic relations.

Amidst the extensive discussions and discourse surrounding the untapped trade potential between Pakistan and Africa, today's Primary objective is to investigate and explore economic prospects and identify areas of collaboration between Pakistan and Africa.

Additional Secretary (Africa) Javed Ahmad Umrani at the Ministry of Foreign Affairs, underlined how AfCFTA represents a historic milestone, uniting the African nations under a single market, and creating a platform for economic growth, job creation, and sustainable development.

He added that Pakistan reaffirms its unwavering support for the objectives and aspirations of the AfCFTA and recognizes the immense potential that lies in deepening our economic engagement and forging stronger trade links with our African partners. He re-stated Pakistan's commitment to the AfCFTA's objectives, efforts to overcome the challenges and work in tandem with its African partners.

Ambassador of Mauritius Rashidally Sobadar said that Africa held a substantial reservoir of young people, possessing about 30 percent of the world's mineral resources and agricultural land which offers a lot of opportunities for Pakistan.

In his concluding remarks, Ambassador Khalid Mahmood, Chairman BoG ISSI highlighted the need to understand how Pakistan can benefit from the opportunities emerging through AfCFTA and stressed the importance of Pakistan's deeper engagement with the African Continent through its 'Engage Africa' Policy.

The event was part of the commemoration of Africa Day 2023 in Pakistan as well as continuous efforts to realize the full potential of Pakistan-Africa economic relations in the context of pivoting to geo-economics as well.