In its effort to make a reality, integration of the continent as a key aim of the African Continental Free Trade Area (AfCFTA), the African Union (AU), banking on the Moroccan Tanger Med Port.
Wamkele Mene, Secretary General of the AfCFTA Secretariat in Accra, who spoke during a recent online conference organized by Tanger Med Special Agency (TMSA) and the Moroccan Exporters’ Association (ASMEX) said that the Tanger Med Port was awash with opportunities for the continent.
Discussing “New logistics ambitions for Moroccan exports”, Mene said the Moroccan global logistics hub will contribute to the improvement of Moroccan competitiveness and African logistics integration.
“Logistics and distribution services are really the key to boosting intra-African trade,” Mene insisted.
“Goods could be transported by sea, reducing the cost of trade on the continent,” he added.
In 2020, the port handled 5.8 million of EVP containers despite the global pandemic, scoring a 20 per cent increase compared to 2019.
Created in 2018, the CFTA forms a market of 1.3 billion people and a combined GDP of $3,400 billion that is expected to reach $8,000 billion by 2035.
AfCTA aims at creating a single continental market for goods and services, with free movement of business persons and investments.
It is to pave the way for accelerating the establishment of the Continental Customs Union and the African customs union; expand intra African trade through better harmonization and coordination of trade liberalization and facilitation of regimes.
