AfCFTA in the spotlight at EIMA International

With the African Continental Free Trade Area (AfCFTA) in centre stage, the first day of the Bologna event, EIMA International began with a conference promoted by Africa e Affari and FederUnacoma 

The deal is expected to lift 30 million people out of extreme poverty, and generate an overall income increase of USD 450 billion by 2035. On the opening day, the meeting entitled “African Free Trade Area and the Mattei Plan: A Window on the Future of Agriculture”, was held, emphasising the goal of AfCFTA that aims to create the world's largest free trade area. 

Moreover, the AfCFTA aims not only to eliminate tariff barriers, but also to stimulate the development of regional value chains, by promoting key sectors such as industry and agriculture. The main objectives of the agreement include the creation of a single market for goods and services, establishing a continental customs union and promoting inclusive and sustainable socio-economic growth. Concrete measures include the progressive elimination of tariff and non-tariff barriers in trade in goods, with the aim of eliminating 97% of tariffs by 2030.

Speakers at the event explained that the Mattei Plan, proposed by Italy, can play an important role in supporting African efforts, strengthening collaboration with Italy in the sectors of agriculture and mechanisation, and promoting sustainable development as well as shared economic growth.

Moreover, the contents of the special publication produced by Africa e Affari in collaboration with FederUnacoma were also presented to examine the implementation status of the AfCFTA and its implications for the development of the agricultural sector in Africa.