Taking front row at this year’s Pan African Chamber of Commerce and Industry (PACCI’13) is the goal to link up the Regional
Economic Communities (REC) across the continent of Africa, who are already
actively engaged in the process of supporting investments at sub-regional
levels.
ITRealms gathered that
though the
private sector supports the Continental
Free Trade Area (C-FTA) initiative, PACCI lamented that the RECs are yet to
take ‘ownership’ and ‘invest’ into the process as part of its own regional and
continental agenda.
PACCI opined that until the
aforementioned happen, the prospects for complete public-private sector participation
in these continental liberalisation processes will be limited.
Also, PACCI plans to serve as a forum in
which private sector positions are developed and presented to the various
working groups, international conferences, and ministerial and heads of State
sessions of the Africa Union (AU).
Meanwhile, ITRealms recalls that
at the forthcoming 2013 Pan African Chamber of Commerce and Industry (PACCI) conference
top on its agenda is the implementing efficient trade policies.
Further investigations by ITRealms
showed that PACCI’13 conference being organized by African Chambers of Commerce
and Industry on November 28th and 29th 2013, and
is also expected to advance the Continental Free Trade Area (C-FTA).
This, PACCI affirmed in a press
statement made available to ITRealms that despite the unease with free trade in
many corners of the world, just as PACCI considers free trade to be good for
development.
“Free trade can increase income levels,
jobs, and bring in growth and prosperity. In all likelihood, PACCI believes
that the discomfort with free trade lies not in the notion of free trade itself
but how trade liberalization is pursued worldwide, too often linked with
hypocrisy, guilt by association, democratic deficit and disregard for
inequality,” official told ITRealms.
In addition, the conference is expected to address relevant issues
to a modern trade and investment environment, from ambitious new market access
opportunities to clear rules for African businesses and investors.
These include mainstreaming
and implementing coherent and efficient trade policies; reducing costs and time
for moving goods to destinations; creating regional and continental value
chains, increasing local production and trade in goods produced in Africa;
developing innovative mechanisms for multi-country infrastructure projects, such
as energy, transport, telecom etc; developing African Financial
institutions/mechanisms to support intra-African trade and investment; and
promoting intraregional harmonisation of regulations and factor mobility.
Remmy Nweke
ITREALMS Online ... delivering news for ICT4D
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