By Lehlohonolo Lehana.
President Cyril Ramaphosa says Africa has had a network of trade routes that facilitated the flow of goods such as beads,carvings,ivory,gold, gum,metal works,salt, textiles and metals.
He was speaking at the 2021 Intra-African Trade Fair on Monday at the Inkosi Albert Luthuli International Convention Centre in Durban.
These trade routes enabled African traders to seek out markets beyond the continent.
Colonialism deeply damaged the indigenous development of African trade and caused great harm to our societies. It is our expectation that this Intra-African Trade Fair will further cement its position as Africa’s premier trade platform, where African manufacturers can promote and sell more ‘Made in Africa’ goods to one another.
“This is critical if we are to change the distorted trade relationship that exists between African countries and the rest of the world,” said Ramaphosa.
He said the outbreak of the Covid-19 pandemic in the first quarter of 2020 exposed the frailty of African economies.
Ramaphosa added that the continent must find ways of attracting more investment into economies and, crucially, “we must encourage African businesses to invest in each other’s countries”.
“This requires that we improve the ease of doing business in our countries and provide protection for investors through strong and independent legal systems that will ensure the sanctity of contract and fair and expeditious legal processes.”
The week-long event hosted by the South African government, in conjunction with African Export-Import Bank (Afreximbank), provides a platform for linking international buyers, sellers and investors, as well as allowing participants and visitors to profile and share market information and investment opportunities in support of intra-African trade and the economic integration of the continent.
The free trade area is an African Union initiative that creates a single continental market for goods and services, with free movement of business persons and investments.
The Trade Fair is expected to draw more than 10 000 visitors and buyers with more than 80 South African companies, supported by the government, having an opportunity to showcase their products and services.
Read the full opening speech by President Cyril Ramaphosa here:2021 Intra-African Trade Fair Opening Speech.