STATEMENT BY HIS EXCELLENCY THE PRIME MINISTER OF THE KINGDOM OF ESWATINI
RUSSELL MMISO DLAMINI BIASHARA AFRIKA 2024
KIGALI CONVENTION CENTRE, RWANDA 09 OCTOBER, 2024
His Excellency, the President of the Republic of Rwanda, Mr Paul Kagame
His Excellency, the former President of the Republic of Niger and Champion of the AfCFTA, Mr Mahamadou Issoufou
His Excellency, the Secretary General of the AfCFTA Secretariat, Mr. Wamkele Mene
Excellencies Distinguished Guests, Ladies and Gentlemen
I bring with me warm regards from His Majesty King Mswati III, Her Majesty the Queen Mother, the Government and people of Eswatini. His Majesty would have loved to be a part of this event but due to other commitments he couldn’t attend but has graciously appointed me to represent him. I would particularly like to express our collective gratitude to His Excellency Mr. Paul Kagame, and the Government of Rwanda for hosting the second edition of the AfCFTA Business Forum, rebranded, the Biashara Afrika 2024, a landmark initiative under our African Continental Free Trade Area Agreement.
I also acknowledge the esteemed business leaders, and all key stakeholders in African trade and economic integration who have joined us here for this very important initiative. Your presence underscores the collective commitment to our shared goals of building the Africa We Want.
Special thanks go to His Excellency, Mr. Wamkele Mene, the Secretary- General of the AfCFTA and the entire staff of the Secretariat, whose tireless efforts have been instrumental in driving our regional integration agenda and making this event possible. I also wish to thank Mr. Mene for the support he has shown in ensuring that Eswatini is well positioned to fully participate and reap the benefits that the Agreement promises to offer to African nations.
Excellencies, Ladies and Gentlemen
Our convening here in Kigali today for the second edition of the business forum marks a crucial step in our journey towards economic integration in Africa. Reflecting on our path, we recall the historic milestones that have shaped the African Continental Free Trade Area. From the seeds planted by the Abuja Treaty to the comprehensive framework established by the
Boosting Intra-African Trade initiative, that culminated to the historic signing of the AfCFTA agreement in 2018. Envisioned by our founding fathers in 1963 in Addis Ababa and further embodied in our ambitious Agenda 2063, these efforts represent the realization of a long-held dream to unify our continent in many fronts.
Despite these accomplishments, we must confront a stark reality: Africa accounts for only 3% of global trade and intra-African trade stands at a mere 15%. These figures are not just statistics; they are a call to action. They highlight the immense untapped potential that our continent holds and underscore the urgent need for transformative solutions.
Today, our resolve is further tested by the triple Cs: Covid, Conflict, and Climate. The COVID-19 pandemic has devastated our economies and disrupted global value chains, exposing the perils of vaccine nationalism and the need for resilient local production capacities. Conflict, from the ongoing strife in some parts of our continent and beyond, continue to hinder our progress both in terms of economic growth and social stability. Moreover, the calamities of climate change that manifest in floods and other natural disasters continue to challenge our ability to sustainable development and growth in the continent.
The operationalization of the AfCFTA now stands as a source of pride and hope for the continent. According to studies by the World Bank, if properly implemented, the agreement could lift 30 million people out of extreme poverty. This landmark initiative holds the key to unlocking new opportunities for our young people and women, fostering job creation, promoting regional and continental value chains in sectors such as manufacturing and agriculture, thus enhancing value addition across our diverse economies.
In recognition of this potential, I pledge to rally my fellow leaders at the upcoming AU Summit to champion the full and faithful implementation of the AfCFTA. We must expedite the conclusion of negotiations on critical sectors such as automobiles and textiles. I, therefore, urge those countries that have not yet deposited their instruments of ratification of the Agreement to do so without delay.
Let us move forward together with renewed vigor and a shared commitment to transform the promise of the AfCFTA into tangible prosperity for all Africans. Our continent's future hinges on our unity and our ability to fulfill the promises made to our people. Utilizing the vast natural resources of our countries is essential for stimulating economic development.
We must use these resources more efficiently and collaborate on sharing expertise and technology to mitigate foreign exploitation. Such measures are vital for poverty alleviation, job creation, and technological advancement. Enhanced cooperation among African countries is crucial to drive our continent's development towards economic independence, and the AfCFTA is a significant step in that direction.
Your Excellencies, I hope that this Second Edition of the AfCFTA Business Forum will be a tremendous success and will contribute significantly to Rwanda’s inclusive and sustainable economic growth and that of the continent. There shall never be a moment again to revolutionize trade in Africa like now, let’s all seize this opportunity and be part of this wonderful journey.
In conclusion, Eswatini also promises to be amongst those who want to dare to invent the future of the AfCFTA. The Kingdom has already
declared readiness to trade under the AfCFTA and has joined the Guided Trade Initiative which will pave the way for Eswatini traders to actively participate in the African commercial activities. We are looking forward to receiving the Secretariat in the Kingdom to continue with engagements under this initiative.