N Gage Consulting signs MoU for AfCFTA expansion in North Africa

Marwa Tawfik , Thursday 28 Mar 2024

The African Continental Free Trade Area (AfCFTA) Secretariat and N Gage Consulting have signed a memorandum of understanding (MoU) to enhance AfCFTA’s expansion within Africa, especially North Africa and Arabic-speaking countries.

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The AfCFTA Secretary-General Wamkele Mene has sealed the MoU with the N Gage Consulting Chairman Karim Refaat and CEO Dr. Sherif Fahmy.
 
The AfCFTA, the largest free trade area in the world, was established to eliminate trade barriers among African countries and create a single market of 1.3 billion people with a combined annual GDP of $3.4 trillion.

It is expected to increase intra-African trade and promote regional economic integration of Africa.

Consequently, it could create employment opportunities and reduce poverty, contributing to Africa's sustainable economic and social development.

The two parties have committed to strengthening cooperation and promoting activities like conducting webinars, effective roundtable sessions, and public-private dialogues.

They will also develop a series of monthly newsletters to disseminate relevant information through social media platforms to raise awareness of businesses and governments on the AfCFTA and its objectives, showcasing its Guided Trade Initiative and its role in powering trade among member states.

Their collaboration will facilitate preparation for the AfCFTA Business Forum and the Intra-African Trade Fair (IATF) and the execution of different capacity-building programmes for member states.

These can leverage the AfCFTA to boost intra-African trade and utilize Public Private Partnership (PPP) projects to support investment in infrastructure.

The MoU is expected to promote the AfCFTA as a trade liberalization instrument, accelerate sustainable development, and enhance intra-African economic diversification and industrialization.

N Gage Consulting, one of the leading companies in government relations and public policy in the MENA region, has also committed to supporting and expanding cooperation with the AfCFTA to enhance African trade integration.

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