The African Continental Free Trade Area (AfCFTA) is the engine for African economic and regional integration, President Cyril Ramaphosa said on Thursday.
The President said this during the China-Africa roundtable on the occasion of the State Visit by Chinese President Xi Jinping.
The China-Africa Leaders’ Roundtable Dialogue co-chaired by Presidents Ramaphosa and Xi was held in an effort to further enhance and strengthen multilateral and international cooperation and partnership for the benefit of Africa’s development.
Both sides stressed the importance of the AfCFTA, having the potential to transform and positively impact upon all sectors of African economies once fully operationalised. The Chinese side committed to promote Africa’s regional economic integration by strengthening and integrating intra-Africa trade, promoting investment, facilitating the development of value chains, and boosting mutual capacity to produce and export value-added manufactured products.
President Ramaphosa said Thursday evening’s deliberations had been robust, giving all a sense of the challenges facing Africa and the opportunities for progress.
“The discussions highlight the importance of effective regional coordination to enhance and support continental integration,” President Ramaphosa said at the session held at the Hilton Hotel in Sandton, Johannesburg.
This as South Africa hosted the 15th BRICS (Brazil, Russia, India, China and South Africa) Summit as well as hosting President Xi who was on his fourth State Visit to South Africa.
President Xi also participated in the three-day summit which wrapped up on Thursday.
President Ramaphosa said that with the support of China and others, regional development and integration will support the diversification of Africa economies. He added that it will enable African countries to shift away from the export of raw materials to the export of high-quality manufactured goods and services.
“We conclude these deliberations with a clear understanding that the African Continental Free Trade Area is the engine for African economic and regional integration. We have discussed that investment in infrastructure in Africa will need to be significantly scaled up.”
The first citizen said sustained engagement with China as one of the principal supporters of strategic infrastructure development projects is critical.
In addition, obstacles in the way of regional integration such as inadequate financial resources, poor infrastructure networks, increasing violence, terrorism, political instability and others have been identified.
“At the same time, the COVID-19 pandemic and the Russia-Ukraine conflict have worsened public finances and increased the debt burden of many African countries. This has reduced infrastructure investment in Africa,” said President Ramaphosa.
BRICS Africa Outreach and BRICS Plus Dialogues
Meanwhile, the Chinese side expressed its full support for South Africa’s BRICS Africa Outreach and BRICS Plus Dialogues, which provides a platform for the African continent to play an even greater role in global governance and international affairs.
China expressed its strong support for the African Union (AU) to become a full member of the Group of 20 (G20) forum. The African side commends China for introducing the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative, in support of strengthening multilateralism and trusts that China and Africa’s development will bring more opportunities for peace and development in the world.
In a joint statement, the two sides agreed that since its inception in 2000, the Forum on China-Africa Cooperation (FOCAC) has proved to be an effective platform for south-south cooperation, focused on achieving common prosperity and sustainable development of all the people of Africa and China.
“We have acknowledged the importance of the Forum on China-Africa Cooperation as means of deepening collaboration in the cause of development.
"The adoption of our joint statement a few minutes ago will further solidify our resolve and commitment to enhancing China-Africa relations.”
The President added that it is now incumbent upon us all to translate these intentions into concrete regional actions that are time-bound and results orientated.
“We should use all necessary regional and continental tools, through our Regional Economic Communities and the African Union, to realise our commitment to an integrated, dynamic and prosperous Africa,” said President Ramaphosa.
Source: South African Government News Agency