While mainstream media often paints a negative image of Africans and Africa as a boat-bound refugee camp, the reality on the continent is the exact opposite.
Africa is undergoing significant economic integration. The African Continental Free Trade Agreement (AfCFTA), signed in 2018 and ratified by 27 countries so far, marks a crucial milestone after nearly three decades since the 1991 Abuja Treaty.
Swift action is imperative to translate AfCFTA's potential into tangible benefits, as Africa's economic success hinges on its ability to use AfCFTA as a catalyst for structural transformation and prosperity.
In contrast to global trade tensions, the operational phase of AfCFTA, initiated in July 2019, involves all 54 AU member states working to dismantle trade barriers and promote mobility within the continent. Through enhanced coordination, AfCFTA could foster robust regional value chains and boost intra-African trade.
UNCTAD's 2019 Economic Development in Africa Report emphasizes that AfCFTA's establishment might shift trade focus towards regional markets, resulting in substantial welfare gains, increased output, and employment growth over time.
Addressing not only tariff-related matters but also Non-Tariff Barriers (NTBs) like trade facilitation, sanitary measures, and rules of origin can further enhance these gains.
Incorporating the AfCFTA into Africa's trade policy framework and structural transformation agenda could significantly support economic diversification.
Beyond trade, the Pan-African initiative encompasses borderless movement for both work and leisure, epitomized by the African Union passport. This effort to facilitate free movement is gaining momentum, with more countries offering e-Visas to enhance accessibility.
Air travel is also advancing towards a borderless Africa through the Single African Air Transport Market initiative, enhancing growth and integration.
Deeper regional collaboration could counter misperceptions about African migration. With improved migration management and diaspora engagement, the continent can capitalize on the opportunities migration offers.
UNCTAD's 2018 Economic Development in Africa Report highlights that most international migration within Africa occurs continentally, contrary to popular belief. Many migrants circulate within the same region, seeking improved livelihoods and contributing to destination and origin countries alike.
African countries can benefit from the skills migrants bring, which can fill critical gaps, enhance productivity, and boost GDP.
Eliminating regulatory obstacles for migrants is vital to unlocking these advantages. Recognizing migrants' qualifications and ensuring legal protection for vulnerable workers, especially women, are essential steps.
A borderless Africa can amplify benefits from trade, industry, and migration links. This opportune geopolitical moment, backed by strong economic rationale and political alignment, presents an optimal time to leverage the continent's potential.
Capitalizing on the prospect of $2.5 trillion Africa economic opportunity is imperative to empower Africa's youth and foster lasting prosperity.
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