ALLPI, COMESA and AeTrade to address low intra-Africa trade
The Africa Leather and Leather Products Institute (ALLPI), the COMESA Business Council (CBC) and the AeTrade Group have signed a Memorandum of Understanding (MoU) about teaming up on a range of business-related initiatives hoped to boost intra-Africa trade.
As reported by East African Business Week (EABW), these efforts include working together on matters related to technical skills development, digital business facilitation, trade partnerships and development within the private sector.
Representatives — past CBC chairperson Amany Asfour, AeTrade founder and CEO MuluAlem Syoum and ALLPI executive director Mwinyikione Mwinyihija — signed the MoU on behalf of their respective organisations. They were attending the 33rd African Union summit in Addis Ababa, Ethiopia, which was themed ‘Silencing the Guns: Creating Conducive Conditions for Africa’s Development’.
Marday Venketasamy, chairperson of CBC, said the partnership was an opportunity to transform the region’s socioeconomic landscape, and that financial inclusion, business relationships and better market access could help strengthen industries and small- and medium-sized enterprises.
The collaboration has come in response to low levels of intra-Africa trade, according to EABW, and is hoped to empower and support enterprises across Africa so they more effectively take advantage of the African Continental Free Trade Agreement (AfCFTA) and opportunities in the digital market.
