The First AfCFTA private sector CEO Forum in Uganda.
Kampala, Uganda, 6th October 2022. The First AfCFTA private sector CEO Forum in Uganda was hosted by the Presidential CEO Forum on Thursday, 6th October 2022 at Kampala Serena Hotel. The theme was "Positioning the private sector for new opportunities and markets for sustainability and thriving economies through AfCFTA"
The chief guest was Secretary General of the African Continental Free Trade Area, H.E Wamkele Mene. During his remarks, he said that the scope of AfCFTA is large, and that the agreement will reduce tariffs among member countries and cover policy areas such as trade facilitation and services, as well as regulatory measures such as sanitary standards and technical barriers to trade.
- The African Continental Free Trade Area (AfCFTA) presents a major opportunity for African countries to bring 30 million people out of extreme poverty and to raise the incomes of 68 million others who live on less than $5.50 per day.
- With the implementation of AfCFTA, trade facilitation measures that cut red tape and simplify customs procedures would drive $292 billion of the $450 billion in potential income gains.
- Implementing AfCFTA would help usher in the kinds of deep reforms necessary to enhance long-term growth in African countries.
The forum constituted a panel discussion where the Chief Executive Officer, PSFU, Stephen Asiimwe stated that it is critical to support our neighbours in building good infrastructure to facilitate our trade relations; fast track peace and security and the need to look into export credit, finance and insurance for traders.
The Prime Minister, Rt. Hon. Robinah Nabbanja, closed the forum remarkably commending the private sector for the role they play to grow the Ugandan economy, and committing that Government will continue to support the private sector by removing all the road blocks across trade areas which are hindering business relations, to see that business people can transport their goods and services without any hindrances.
The Forum was organized by the Presidential CEO Forum Chaired by Ms. Barbara Mulwana in partnership with PSFU, Ministry of Finance, National Planning Authority, UNCCI, Uganda Manufacturers Association, and Federation of Uganda Employers.
