President William Ruto has called on African nations to unite in expanding trade within the continent, saying intra-African trade must rise from the current 14 percent to at least 50 percent to match other global regions.
Speaking during the closing ceremony of the 24th COMESA Summit of Heads of State and Government in Nairobi, President Ruto emphasized that unlocking trade for Africa’s 1.4 billion people would significantly increase demand for local goods and services, creating vast economic opportunities.
”We call on Africa to work together to increase intra-African trade from the current 14% to 50%, matching other regions that trade at between 60% and 70%. Unlocking trade for the 1.4 billion Africans in the continent would triple demand for our goods, products and services,’Ruto said in a statement.
The Head of State urged African countries to remove visa restrictions and eliminate tariff and non-tariff barriers that hinder the free movement of people, ideas, and talent across borders.
Dr. Ruto also called for an end to the export of raw materials, saying Africa must focus on value addition to create jobs and retain wealth within the continent.
He said such measures would transform Africa into a self-sustaining economic powerhouse.
