03
Oct
Geneva, Switzerland: The promotion of intra-Africa trade would bring equity, unite the people and create peace and stability on the continent, Deputy President William Ruto has said. Mr Ruto was speaking at the ongoing World Trade Organisation public forum in Geneva, Switzerland, where he is representing President Uhuru Kenyatta. He said African leaders, through the African Union (AU), are committed to promoting trade on the continent by encouraging intra-Africa trade through economic integration. “The building blocks for integration are regional economic groupings, which are expected to eventually give way for an African continental free trade area by 2017,” he added yesterday. Addressing the forum themed ‘What Trade Means for Africa’, the Deputy President observed that the various regional economic groupings in Africa, in collaboration with the AU, had become instrumental in resolving conflicts among their members. This, he said, had reduced tension and created peace in the respective regions.
The DP said Africa was intensifying efforts to increase intra-Africa trade, which currently stands at 10 per cent, compared to 60 per cent, 40 per cent, and 30 per cent intra-regional trade achieved by Europe, North America and ASEAN respectively, by adopting the multi-lateral trading system and the principles it stands for. “This explains why many African countries are members of the World Trade Organisation while some who are not members are at various stages of accession,” said Ruto. Ruto raised concern that the Doha Round of Trade Negotiations had not been concluded in over a decade, saying the new momentum from the WTO Bali ministerial conference in December 2003 should be taken forward to achieve an outcome that addressed development needs.
Source: http://www.standardmedia.co.ke/article/2000136769/ruto-calls-for-intra-africa-trade-at-geneva-forum