UN official says China could help Africa in continental free trade area - World - Tibetol

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UN official says China could help Africa in continental free trade area
update:May 24,2018
May 24,2018-- A UN offcial said on Wednesday that China could play a role in helping Africa achieve benefits of the Continental Free Trade Area.
Stephen Karingi, Director of Capacity Development Division at the UN Economic Commission for Africa (UNECA), told Xinhua in Nairobi that for Africa to achieve optimum benefit from the free trade regime it will require new investments in the area of infrastructure, human capacity and manufacturing.
"China has all these resources which if deployed in Africa could help the Continent Free Trade area to be fully realized," Karingi said on the sidelines of the Presidential Infrastructure Champion Initiative (PICI) Technical Task Team Workshop.
In March, 44 African leaders signed an agreement for the establishment of the Continental Free Trade Area and so far two countries have deposited instruments for the ratification of the agreement.
The campaigners of the free trade pact hope that it will help Africa achieve prosperity as well as sustainable economies that are able to create jobs for its people.
Karingi said there are a lot of opportunities where China can cooperate with Africa to enable the continent to realize benefits of more relaxed borders.
He said China has done a lot for Africa already and is capable of doing even more for the continent.
Karingi noted that the trade pact has potential huge benefits because it will reduce or eliminate import tariffs of goods made and traded within Africa.
"Any investor who comes to any African country will have access not only to the domestic market but a market of approximately 1.2 billion people," he said.
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