June 14th, 2019; Nairobi, Kenya: Kenyan Vice President H.E William Ruto has said eliminating 90 percent of import tariffs within Africa is predicted to yield a 52 percent growth in trade.
Speaking when he officially opened the 15th Comprehensive Africa Agriculture Development Programme (CAADP) Partnership Platform (PP) themed, “Enhancing Trade and Market Access for Accelerated Agriculture Transformation,” H.E Ruto said the move to do so should be informed by a conviction that giving up revenues from tariffs for earnings from trade was an optimal trade off.
He highlighted the advantages of the recently launched AU African Continental Free Trade Area (AfCFTA) and the boost in trade that it provides the continent.
H.E Ruto further emphasized that commitment to agricultural transformation ought to be reflected in the most critical policy instrument, which is the budget and highlighted that CAADP was increasingly becoming cardinal to the continent’s problem solving and Africa’s development.
African Union Commission's Commissioner for Rural Economy and Agriculture, H.E. Amb. Josefa Sacko reiterated the call for accelerated agricultural transformation as a means to boosting the continent’s economy.
"We all need to work hand in hand to agree on the roadmap and key policy actions that will position the agriculture sector to take full advantage of the single African market of 1.3 billion people and a cumulative GDP of over $3.4 trillion," said Amb. Josefa Sacko. "We can make agriculture transformation happen by 2025. As we continue to celebrate the recently launched African Continental Free Trade Area (AfCFTA), let us not only debate but take action on how to attract funding from public and private sectors to enhance intra-African trade and catalyze agriculture transformation in Africa."
The signing and ratification of the AU's AfCTFA agreement is an opportunity to accelerate growth and sustainable investment by increasing investment and trade, including trade in agricultural commodities.
Amb. Sacko said in order to foster agriculture transformation, AUC and AUDA/NEPAD were proposing an additional CAADP intervention; the Common Africa Agro Parks (CAAPs) that would take advantage of, and consolidate the AfCTA.
Other dignitaries present during the opening ceremony included Minsters of Agriculture from 15 countries; permanent secretaries; development partners; NSAs, ambassadors, private sector and senior representatives of Regional Economic Communities.
The 15th CAADP PP organised by the AUC and AUDA/NEPAD will present African countries and their development and technical partners with the opportunity to reflect together, share best practices and identify strategies and policies to foster integration, enhanced market access and intra-regional trade in agricultural commodities and services.
For more information:
Ms. Carol Jilombo
CAADP Communications
Department of Rural Economy and Agriculture
JilomboC@africa-union.org
