THE Third Intra-African Trade Fair (IATF2023), organised by the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the Africa Continental Free Trade Area (AFCFTA) Secretariat, is set to be a game-changer for trade and economic cooperation. Scheduled to run from November 9 to November 15, 2023, in Cairo, Egypt, this event revolves around the theme The AfCFTA Marketplace.
IATF2023 holds immense significance, offering businesses access to a unified African market of over 1.3 billion people with a combined GDP exceeding $3.5 trillion, all made possible under the African Continental Free Trade Area.
Key highlights:
- Promoting intra-African trade: IATF plays a pivotal role in enhancing trade among African nations, addressing the lower levels of intra-African trade compared to other regions.
- Market access: The fair grants African businesses access to an expanded continental market, fostering economic growth and customer base expansion.
- Facilitating networking: IATF brings together diverse businesses, government officials, investors, and trade experts, facilitating partnerships and collaborations.
- Showcasing African products: Businesses get the opportunity to showcase their goods and services, boosting brand recognition and highlighting the diversity of African products.
- Attracting investment: IATF attracts domestic and foreign investors, potentially increasing foreign direct investment (FDI) and driving economic development.
IATF 2023 programme of events:
IATF 2023 offers a diverse program of events to facilitate trade, collaboration, and economic growth within Africa:
- Trade exhibition: Countries, corporations, and MSMEs can set up pavilions, providing opportunities to showcase their goods and services.
- Trade and investment forum: A four-day conference featuring leading speakers, covering trade and investment opportunities under the AfCFTA.
- Creative Africa Nexus (CANEX): Showcasing Africa’s creative economy in fashion, music, arts, sports, and culinary arts.
- B2B and B2G Platform: Facilitating business exchanges and deals.
- Country days: Showcasing trade, investment, tourism, and cultural opportunities for four countries, starting with Egypt.
- IATF virtual: An interactive online platform showcasing opportunities even after the physical Trade Fair.
- Africa automotive show: Featuring auto manufacturers, assemblers, OEMs, and suppliers.
- AU Youth Start-Up Programme: Showcasing innovative startups, providing networking and venture capital opportunities.
- Diaspora Day: Highlighting commercial and cultural ties between Africa and its diaspora.
African Union’s role at IATF 2023:
The African Union (AU) actively participates in IATF 2023, emphasising its commitment to regional economic integration and promoting economic cooperation among African nations. The AU showcases Africa’s potential as a hub for intra-African trade, attracting investments and fostering sustainable development.
The AU’s activities include hosting an African Union Pavilion, participating in various side events, including Africa Industrialization Week (AIW), Enterprise Africa Network (EAN), African Women in Processing (AWIP), High-Level Dialogue on the AU Commodity Strategy, and an IATF Media Breakfast.
IATF 2023 promises to be a pivotal event, driving trade, cooperation, and economic growth across the African continent, while the African Union actively contributes to the achievement of these goals.