Bulawayo, — Botswana President Duma Boko on Thursday called for urgent action to increase trade among African countries, saying that the continent was not doing enough to trade within itself despite existing frameworks for economic integration.
He said this while officially opening the Zimbabwe International Trade Fair, the country’s premier trade show, where he was the guest of honour.
The annual trade showcase, running under the theme “Connected Economies, Competitive Industries,” drew exhibitors from across the region and beyond, reinforcing its role as one of Africa’s premier trade and investment platforms.
President Boko said intra-African trade remained critically low, and required deliberate intervention by governments and the private sector.
“We are not trading with each other at all in instances or we are not trading with each other enough. There’s more that we must do,” he said.
He noted that although Africa had made progress in establishing frameworks such as the African Continental Free Trade Area (ACfTA), actual implementation remained weak.
“The imperative before us is therefore very clear. We must transition from frameworks to function, from agreements to action, from word to deed,” said President Boko.
He added that intra-Africa trade currently stood at only about 15 percent, a figure he described as unacceptably low for a continent with vast natural and human resources.
“We must move ourselves in this tormented passage from where we are now as a continent at volumes of 15 percent of intra-Africa trade to where we ought to be, with more trade, more depth in our connections and economic affinities,” he said.
President Boko warned that continued reliance on imports from outside Africa exposed African economies to global shocks, urging the continent to build resilient, value-added industries.
“In this increasingly volatile global environment, our continued reliance on imported commodities renders our economies vulnerable to exogenous shocks.
“We must instead harness our abundant natural resources to build competitive value-added industries that generate employment, stimulate innovation and strengthen economic resilience,” said President Boko.
Comparatively, intra-African trade of a mere 15–18 percent pales is dwarfed by Europe’s 60 percent, and Asia’s 50 percent.
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