Obasanjo extols Intra-African Trade Fair as Algeria signs hosting agreement for 2025
The Government of the People’s Democratic Republic of Algeria has signed the hosting agreement for the Intra-African Trade Fair 2025 (IATF2025).
The Host Agreement Signing Ceremony took place in Algiers on Monday.
The ceremony was hosted by Afreximbank in collaboration with the African Union, the African Continental Free Trade Area(AfCFTA) Secretariat, and the Government of the People’s Democratic Republic of Algeria.
The signing ceremony paved the way for the fourth edition of the IATF to take place from Sept. 4 to Sept. 10, 2025, in Algiers, Algeria.
Speaking at the event, former President of the Federal Republic of Nigeria, Olusegun Obasanjo, who is the Chairperson of the IATF2025 Advisory Council, said that the IATF2025 Hosting Agreement represented more than just a contractual agreement.
“Rather it symbolises a collective responsibility of the partners for excellence and innovation in continuing the tradition of the IATF which has become established as the AfCFTA marketplace.
“Also the go-to trade and investment event on the African continent.”
According to Obasanjo, the IATF is the go-to trade and investment event on the African continent.
He said the IATF was now a foremost event in the African calendar of economic, social, trade and policy events.
“It is in the passionate pursuit of these goals that Afreximbank in collaboration with the African Union Commission and AfCFTA Secretariat are championing the noble cause of changing the socioeconomic landscape of Africa.
“This, they would do, by devising progressive initiatives aimed at promoting intra-African trade and continental integration.”
Also, Kanayo Awani, Executive Vice-President, Intra-African Trade Bank, Afreximbank, said that the IATF opened alternate routes for African trade.
“It has become the platform for actualising the AfCFTA vision. It expands and deepens knowledge of the continent’s trading environment and enhances the industrial capacity of African economies.
“ Ultimately, IATF has become the engine accelerating trade and business flows within the continent. “
Awani said the last three fairs had generated combined trade and investment deals of no less than 120 billion dollars.
“To one who wonders what the 120 billion dollars represents, African businesses have found buyers in new markets across Africa, and industries have found new sources of raw materials.
“Also investment and capital goods, government-to-government deals in critical sectors such as agriculture and agro-processing have been forged, and African contractors have won major government projects.”
Wamkele Mene, Secretary-General, AfCFTA Secretariat, in a statement, described the importance of the IATF as “our strategic response to the challenge of trade information scarcity.
“Aiming to enhance intra-African trade and investments, all without the need for outside help.
“It serves as a symbol of hope and opportunity, breaking down conventional trade and investment barriers to unite the diverse yet cohesive African identity.“
Also, a statement delivered on behalf of Albert Muchanga, African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, highlighted that other regions of the world had proved that “trade can be a powerful tool for economic growth.
“Whilst trade was able to lift millions out of poverty in those regions, the same has not been reflected in Africa’s experience.
“Trade amongst African countries is low. The AfCFTA was designed to change this story.
“Not only was it meant to boost intra-African trade, but it was meant to deal with Africa’s perennial challenges of job creation, high levels of poverty and very low levels of manufacturing and industrial base.
“ It was designed to create a predictable legal framework for trade and investment, hence offering more guarantees to investors thereby bringing certainty and predictability to the African trading environment.”
The News Agency of Nigeria (NAN) reports t that the IATF is the African continent’s premier trade and investment event which provides a unique opportunity for exhibitors to showcase their goods and services.
“Also to engage in Business to Business (B2B) and Business to Government (B2G) exchanges, network, establish new business contacts and conclude business deals. (NAN) (www.nannews.ng)
Edited by Vivian Ihechu
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