South African President, Cyril Ramaphosa is optimistic that the African Continental Free Trade Area Agreement (AfCFTA) will unlock immense economic benefits for the African continent and other trading blocs around the world.
The African leader who made these comments in an opening remark at the 15th BRICS Summit in Johannesburg South Africa explained that advancing the African agenda is a strategic priority for South Africa which is currently chairing the BRICS bloc.
The theme for this year’s summit is on the theme: “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism” with more than 20 more countries including Africa’s most populous country BRICS applying to officially join the economic bloc.
President Cyril Ramaphosa says South Africa welcomes the ongoing engagement of BRICS countries with Africa in the spirit of partnership and mutual respect while adding that the objects of his government are reciprocal trade and investment.
“We want the goods, products and services from Africa to compete on an equal footing in the global economy,” he said.
He added that “the African Continental Free Trade Area, once fully operational, will unlock the benefits of the continental market and generate mutually beneficial opportunities for both African and BRICS countries”.
Ghana’s President Akufo Addo is amongst over 40 world Leaders attending this year’s BRICS summit in Johannesburg. It is believed that this summit provides and opportunity for Ghana’s government to engage China’s President Xi Jinping as the country looks forward to securing more favorable terms of an external debt restructuring which remains a lifeline to Ghana’s economy.
