How Senegal is positioning for AfCFTA implementation

Senegal, under the leadership of Abdou Karim Fofana, the Minister of Trade, Consumer Affairs, and SMEs, is making significant strides in positioning the country for success within the African Continental Free Trade Area (AfCFTA) and in advancing regional integration efforts. Fofana participated in a CNBC Africa interview to discuss Senegal's strategy for trade and its approach to maximizing the opportunities presented by the AfCFTA. One key aspect of the discussion was Senegal's active involvement in the Guided Trade Initiative, as one of the 29 countries expressing interest in participation. Fofana highlighted Senegal's impressive economic performance over the past decade, with an average annual growth rate of 6%, driven by initiatives like the Plan Senegal Emergence (PSE). This success has positioned Senegal as an open and competitive economy, poised to capitalize on the benefits of regional trade integration. Senegal is investing in upgrading its small and medium-sized enterprises (SMEs) through capacity building and financing to enhance their competitiveness and market access. Fofana emphasized the importance of collaboration with the private sector to empower businesses to leverage the opportunities within the AfCFTA. Senegal's partnerships extend beyond the continent, with flourishing trade relations with countries like South Africa and engagements in the Middle East. The country's commitment to fostering trade relationships and its growing sectors like oil and gas production and vocational training make it an attractive and reliable partner for international trade. As Senegal continues its efforts to advance trade and regional integration, Fofana's leadership and strategic initiatives are key to driving economic growth and prosperity in the country.