By: Mohamed Sahr
Ahead of the 2025 Conference of African Ministers of Finance, Planning, and Economic Development next week, a Committee of Experts has gathered at the UN Conference Centre in Addis Ababa for a three-day preparatory technical meeting. The experts are reviewing the state of economic and social development in Africa and considering progress towards regional integration. The theme of this year’s Conference is “Advancing the Implementation of the Agreement Establishing the African Continental Free Trade Area: Proposing Transformative Strategic Actions.”
The Committee, which is meeting from 12-14 March, will also address statutory issues related to the work of the Economic Commission for Africa (ECA) and provide recommendations for the African ministers of finance, planning, and economic development to consider during the ministerial segment on 17-18 March.
Opening the expert segment, Ethiopia’s State Minister of Finance, Semereta Sewasew, emphasised that the theme of this year’s conference underscores the urgency of unlocking the continent’s economic potential through enhanced intra-African trade. She stressed that the African Continental Free Trade Area (AfCFTA) is more than just a legal framework it is a transformative initiative aimed at deepening Africa’s economic ties.
By facilitating trade, harmonising policies, and dismantling barriers, the agreement is designed to foster industrialisation, job creation, and poverty alleviation, all of which are critical to achieving the goals outlined in Agenda 2063, Africa’s blueprint for sustainable development.
Minister Sewasew acknowledged that despite the AfCFTA’s ambitious goals, challenges such as infrastructure gaps, financing constraints, and varying capacities among member states present significant hurdles to its implementation. She called on delegates to propose actionable recommendations to ensure the AfCFTA translates into tangible progress, particularly for women, youth, and small and medium enterprises (SMEs), which are essential to Africa’s economic backbone.
She also highlighted Ethiopia’s commitment to regional integration through substantial investments in infrastructure, such as the Addis Ababa-Djibouti railway, which strengthens trade links across the Horn of Africa. Additionally, Ethiopia’s energy resources, particularly from the Grand Ethiopian Renaissance Dam, position the country as a leader in regional energy cooperation.
Antonio Pedro, Deputy Executive Secretary of the ECA, emphasised the AfCFTA’s role as both a development blueprint and a political platform for Africa to assert its collective interests on the global stage. He urged member states to re-evaluate Africa’s dependence on imports, advocating for leveraging local production capabilities for commodities like fertilisers and refined petroleum.
Mr. Pedro noted that intra-African trade remains low, accounting for only 14.4% of total trade on the continent. He stated that the AfCFTA presents a unique opportunity to boost trade within Africa, projecting that intra-African trade could increase by 45% by 2045 if tariffs and non-tariff barriers are reduced.
He also stressed the critical role of infrastructure development in realising the AfCFTA’s potential, highlighting the estimated $411 billion needed for transport infrastructure to support increased trade, including investments in railways, vessels, and trucks.
The outgoing Chair of the Conference of African Ministers from Zimbabwe noted the progress made by the ECA over the past year in supporting member states in areas such as macroeconomic stability, development planning, and industrialisation. He reaffirmed the commitment to building on these achievements and advocating for a fair global financial system as Africa seeks to transform its economies through the AfCFTA.
The Conference serves as one of the premier forums for dialogue and the exchange of views among African ministers responsible for finance, planning, and economic development, as well as governors of central banks, on issues pertinent to the continent’s development agenda.