Extraordinary And Plenipotentiary Diplomatist July 19 Edition . | 页面 46

AFRICA DIARY
the Flagship programmes and projects of the African Union
Agenda 2063, intended to help in signifi cantly accelerating
growth of Intra-Africa trade and to use trade, more eff ectively,
as an engine of growth and sustainable development, through
doubling of intra-Africa trade by 2022, strengthen Africa’s
common voice and policy space in global trade negotiations
and establish the fi nancial institutions within agreed upon
time frames.
Africa’s emerging markets off er great opportunities for
economic growth and prosperity. With roughly 1.2 billion
people, it is the world’s second largest and second most
populous continent and boasts of natural and human resources
which have the potential to power economic development
across the continent. Notwithstanding challenges such as
high unemployment, according to the World Bank and Focus
Economies, Africa is home to seven of the world’s fi fteen
fastest growing economies. This growth rate is expected to
boost consumer spending from USD 860 million in 2008
to more than USD 1.3 trillion by 2020, with 128 million
households possessing discretionary income.
The AFCFTA will create a single market for goods,
services, and movement of persons in order to deepen the
economic integration of the African continent. Create a
single continental market for goods and services, with free
movement of business persons and investments, paving the
way for the establishment of Continental Customs Union,
etc.
Currently, intra-Africa trade stands at about 16 percent,
compared to 19 percent intra-regional trade in Latin America,
51 percent in Asia, 54 percent in North America and 70
percent in Europe. It is estimated that AFCFTA can increase
intra – Africa trade by 53 percent through the elimination
of import duties and non-tariff barriers. It could also create
an African market of over 1.2 billion people with a GDP of
USD 2.5 billion, thus making Africa a global competitor in
trade negotiations.
The good news is that, on 29th April 2019, two more
African Union Member states deposited their instruments of
ratifi cation of the Agreement establishing the AFCFTA. This
brings the number of ratifi cation for the AFCFTA Agreement
to 22. Thirty days after the 22nd instrument of ratifi cation is
deposited the AFCFTA Agreement enters into force. It has
been announced that this will happen on the 30th of May 2019.
Distinguished ladies and gentlemen,
The Global order has seen power shifts in these recent
years. The rise of nations from the Global South have
become ever more evident and prominent. That combined
with Multi-polarization of the international system and rise
of institutions like the BRICS (BRAZIL, RUSSIA, INDIA,
CHINA, SOUTH AFRICA) and IBSA (INDIA, BRAZIL,
SOUTH AFRICA), have pivoted the re-conceptualization
and reinterpretation of changing global order. (This has made
South Africa very relevant in the New Global order and Africa
Countries can benefi t from this example if we follow same
to use as leverage in the AU context as well as the GLOBAL
SOUTH (South-South Co-operation)
In Conclusion, let me indicate that Africa is fully aware
that the asymmetrical distribution of Global political,
economic and military power has remained relatively
unchanged since the end of the cold war, and there was the
need to forge a united front and speak with one voice if the
continent is to assume its rightful place in the global order.
Africa has embraced integration as a developmental process
through the RECs and the African Union, poised to work
with other continents and countries such as India to raise
the standard of living of its people and for the global good.
I thank you for your kind attention. 
46 • Extraordinary and Plenipotentiary Diplomatist • Vol 7 • Issue 7 • July 2019, Noida