During EIMA International in Bologna, Italy attention was drawn to the African Continental Free Trade Area (AfCFTA), Africa’s groundbreaking free trade initiative. A conference, promoted by Africa e Affari and FederUnacoma, highlighted the transformative potential of the AfCFTA, which aims to lift 30 million people out of extreme poverty and generate an overall income increase of USD 450 billion by 2035.
The AfCFTA stands as one of the African Union’s most ambitious efforts to accelerate economic growth and foster regional integration, ultimately establishing the world’s largest free trade area. This was the central message of the session titled “African Free Trade Area and the Mattei Plan: A Window on the Future of Agriculture,” held at the event’s launch. Including nearly every African country, the AfCFTA opens access to a market of 1.3 billion people, presenting an essential consideration for companies looking to expand internationally.
Moderators for the discussion included Gianfranco Belgrano, Alessandra Pastorelli of the Ministry of Foreign Affairs, Antonio Montanari of Confindustria Assafrica, Michele Vollaro of Internationalia, Danilo Desiderio, an AfCFTA consultant, Fabio Massimo Bellerini from the Council’s Presidency, Alessandro Cugno of the Italian Trade Agency and Alice Fanti from CEFA Ets.
During the meeting, speakers referenced data from the African Development Bank and World Bank, underscoring the agreement’s vast potential: the AfCFTA is not only set to eliminate tariff barriers but also to stimulate regional value chains by supporting sectors like industry and agriculture. Key objectives include creating a unified market for goods and services, establishing a continental customs union and promoting inclusive and sustainable socio-economic growth. Specifically, the agreement outlines a phased elimination of tariff and non-tariff barriers, with the goal of cutting 97% of tariffs by 2030.
While progress is evident, significant challenges persist. Inadequate infrastructure, particularly in transportation and obstacles to the free movement of people hinder the AfCFTA’s full potential. As speakers explained, the Mattei Plan proposed by Italy offers a strategic opportunity to bolster Africa’s efforts. The plan aims to strengthen partnerships with Italy in agriculture and mechanisation, advancing sustainable development and shared economic growth.
The event also featured the presentation of a special publication by Africa e Affari in collaboration with FederUnacoma. This comprehensive report assesses the implementation of the AfCFTA and its impact on Africa’s agricultural sector, analysing data from 20 countries to illustrate recent trends in machinery production and import, providing valuable insights into the sector’s evolving landscape.
