Among the major achievements for the continent in 2019 was the ratification of the African Continental Free Trade Agreement (AfCFTA). AfCFTA paves the way for Africa to better achieve its economic and social goals by developing a greater sense of cohesion and cooperation in the important realm of trade. More intra-African trade will contribute to the trading countries’ economies, and raise tax revenue to fund important social programs in health and education, for example. To this end, the second Intra-African Trade Fair (IATF) will take place in Rwanda from 1-7 September 2020.
The African Export-Import Bank expects 5,000 participants in the trade fair, from over 50 countries, as well as over 1,000 exhibitors, culminating in over $40 billion in deals struck.
Analysis by the African Export-Import Bank (Afreximbank) shows that one of the reasons why intra-African trade is at 16% of total African trade, on average, is the lack of access to trade and market information. To address this challenge, Afreximbank decided to, among other initiatives, convene biennial Trade Fairs to provide trade and market information, connect buyers and sellers from across the continent and provide opportunities for matchmaking, business exchanges and conclusion of business and investment deals, among other objectives.
The inaugural IATF2018, which was organized in Cairo, Egypt, was a resounding success. US$32 billion in trade and investment deals were concluded. More than 1,000 exhibitors and 2,500 conference delegates from over 45 countries participated.
IATF2020 will no doubt build on the strength of the IATF2018. The following slide show provides more detailed information about this important event.
