CAIRO - 15 December 2024: The first extraordinary session of African Ministers of Trade, Industry, and Mining, organized by the African Union Commission, concluded in Addis Ababa, Ethiopia. The meetings focused on advancing regional integration and evaluating the progress of the African Continental Free Trade Agreement (AfCFTA), which has entered its operational phase. Discussions also addressed the varying levels of economic integration among Africa’s regional communities and trade blocs.
Speaking on the sidelines of the event, Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, stressed the importance of industrialization in addressing Africa’s low levels of intra-continental trade, which fall short of global averages. He highlighted the need for targeted action as the Third Industrial Development Decade for Africa approaches its conclusion in 2025. El-Khatib urged African nations to focus on the Fourth Industrial Development Decade, starting in 2026, to increase industrial output and enhance value chains within African trade sectors.
During the session, participants emphasized the importance of achieving balanced regional integration to ensure the full and inclusive implementation of the AfCFTA. Ministers agreed on the necessity of integrating all African nations into the agreement before advancing to higher levels of economic integration. A consensus was reached to convene a conference evaluating the readiness of African states for new initiatives such as a common African market or customs union, as outlined in the Abuja Treaty, a foundational document for Africa’s integration efforts.
El-Khatib also addressed the sustainable management of Africa’s vast mineral resources, calling for strategies that incorporate environmental responsibility and add value to raw materials extracted within the continent. He underscored that this approach would maximize the economic benefits of Africa’s natural wealth while ensuring long-term sustainability.
Wamkele Mene, Secretary-General of the AfCFTA, commended Egypt’s strong commitment to advancing continental trade. He noted that Egypt has recently issued the highest number of certificates of origin under the AfCFTA, demonstrating its leadership in fostering intra-African trade and contributing actively to the agreement’s goals.
The session also saw the adoption of Africa’s Green Minerals Strategy, a framework designed to drive a fair and sustainable transition to a low-carbon economy. This strategy aligns with the African Union’s Agenda 2063 and its Second Decade Plan of Action, focusing on leveraging Africa’s mineral wealth to support global energy transitions while safeguarding the environment.
A final communiqué issued at the close of the session outlined key recommendations for submission to the African Union’s decision-making bodies. These proposals are set to be reviewed by African heads of state and government at the AU Summit in February 2025.
The extraordinary session brought together African ministers, the AU Commissioner for Trade and Industry, the Secretary-General of the AfCFTA, and representatives from international organizations, including the United Nations, the European Union, development banks, and African development partners.
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