Mushikiwabo was speaking Monday in Kigali while opening the special session of African Union’s Executive Council, a session preparing the signing of the agreement establishing the Continental Free Trade Area.
The AfCFTA will be signed in an extraordinary African Union (AU) summit scheduled on Wednesday 21st in Kigali.
On Saturday another session of Permanent Representatives Committee also took place in Kigali.
Mushikiwabo said that the Africa’s flagship project of Agenda 2063 will lead to the social and economic changes of the continent.
“The AfCFTA is one of our key milestones, a critical initiative that has the ability to bring about the social and economic changes that Africa has been envisioning for decades,” she said.
Mushikiwabo said that with the adaptation of the AfCFTA agreement, it will be important for all countries to sign it so that they can proceed with speedy ratification and implementation.
“AfCFTA agreement is not just a simple document; it has critical economic implications for African populations. It will open up a market of 1.2 billion people, with the possibility of generating enormous wealth on the continent. However, we should realize that what we make of the AfCFTA is up to us. We have the choice to translate vast potential into concrete reality and each of us has to do our part,” she urged.
She urged that the countries have to work on establishing the administrative, legal and logistical structures that will make use of such opportunity.
Mushikiwabo urged that if they want to increase intra-Africa trade, they must address challenges like access to finance by private sector, infrastructure networks and simplification of customs processes.
“With the AfCFTA -related agreements before us, we are now well armed to improve our social structures, improve the livelihoods of even our poorest communities, and develop regional and continental value chains to ensure prosperity and well-being for our people,” she added.
Mushikiwabo reminded that Africa is well equipped to ensure a better future for future generations, and reminded that the Agreement plans to make Africa an attractive destination for inward and foreign investment.
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She said that the Phase two of the AfCFTA negotiations starting later this year, aims for the goal to addressing key trade issues as competition, investment and intellectual property rights.
“This Agreement must enter into force as soon as possible. By signing and ratifying it, we would signal that we are determined to play our part as a global player while promoting the continent’s economic interests as one, through a single African market,” she said.
She said that the move should not only win Africans the confidence of the investment community, but also provide with them increased bargaining power in future partnership agreements and to help secure the best deals for African businesses.
“We need those investments to generate jobs and improve livelihoods,” she noted.
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