At the United Nations conference centre in Addis Abeba, a high-level Ministerial Forum is being held on free trade on the African continent, with the intention of creating a fiscal area to promote employment and economic diversification on the continent.
The forum began with a speech by the Ethiopian Prime Minister, Abey Ahmed, and continued with the debate on matters regarding continental free trade, the ratification and implementation of these agreements, to ensure sustainability, the expansion of the fiscal area, and the promotion of economic diversification, among other matters.
The Equatoguinean delegation is being led by the Vice-Minister for the Economy, Planning and Public Investment, Valentin Ela Maye. They also hope to promote the structural transformation of Africa, economic growth, and the creation of jobs, with a greater proportion of industrial goods manufactured from agricultural products.
The free trade programme on the continent requires an adjustment to the lowest tariffs in African trade, in the medium and long term, which will facilitate the route towards fiscal sustainability and the creation of economic activity in other fields, in order to improve the fiscal dependence on income from the export of basic products, which is relatively volatile.
Source: Official Web Page of the Government of the Republic of Equatorial Guinea