Canada and African Union Commission Conclude Second Trade Policy Dialogue
Date: November 8, 2024
Source: Canada All National News
Article:
On November 8, 2024, Canada and the African Union Commission (AUC) concluded their second annual Trade Policy Dialogue. The dialogue was held in Addis Ababa, Ethiopia, and was led by the Honorable Mary Ng, Canada’s Minister of International Trade, Export Promotion, Small Business and Economic Development, and H.E. Albert Muchanga, the AUC Commissioner for Economic Development, Trade, Tourism, Industry and Minerals.
The dialogue covered a wide range of trade-related issues, including:
- Market access: Canada and the AUC discussed ways to improve market access for both Canadian and African goods and services. This included discussing tariff reduction, technical barriers to trade, and regulatory cooperation.
- Trade facilitation: The two sides discussed measures to streamline and simplify trade procedures, including the implementation of the World Trade Organization’s Trade Facilitation Agreement.
- Trade promotion: Canada and the AUC explored opportunities for trade promotion and market development, particularly for small and medium-sized enterprises (SMEs).
- Investment: The dialogue addressed the importance of attracting foreign direct investment to Africa and the role that Canada can play in this regard.
- Economic diversification: Canada and the AUC discussed the need for African countries to diversify their economies and reduce their dependence on commodities.
The dialogue also included discussions on regional integration and the implementation of the African Continental Free Trade Area (AfCFTA). Canada expressed its support for the AfCFTA and its potential to unlock economic growth and development in Africa.
Minister Ng and Commissioner Muchanga welcomed the progress made during the dialogue and agreed to continue working together to enhance trade and economic cooperation between Canada and Africa. They committed to holding the third Trade Policy Dialogue in Canada in 2025.
Significance:
The second Trade Policy Dialogue between Canada and the AUC demonstrates the growing importance of economic ties between the two regions. It provides a platform for ongoing discussion and cooperation on trade-related issues and will help to further strengthen the partnership between Canada and Africa.
Canada and African Union Commission conclude second Trade Policy Dialogue
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