Algeria to host 2025 IATF

Algeria has been selected to host the 2025 Intra-African Trade Fair, a significant event that highlights the commitment to boosting trade and investment across the continent. The African Export-Import Bank, the African Union, and the AfCFTA Secretariat recently signed a host agreement with Algeria, solidifying the country's role in advancing intra-African trade. Kanayo Awani, the Executive Vice President of Intra-African Trade Bank, discussed the pivotal role of the IATF in implementing the African Continental Free Trade Area (AfCFTA) during an interview on CNBC Africa. The AfCFTA aims to eliminate trade barriers, promote intra-African trade, and drive investment in value-added products and services. By establishing regional value chains, the AfCFTA seeks to create job opportunities and enhance competitiveness for African businesses in the long run. The Intra-African Trade Fair serves as a crucial platform for facilitating trade and investment across the continent, connecting buyers, sellers, and investors, and addressing key challenges such as supply-side constraints and lack of market information. Key Points: 1. Complementing the AfCFTA: The IATF complements the AfCFTA's objectives by fostering industrialization, job creation, and competitiveness for African businesses in the medium to long term. It provides a unique opportunity to bridge trade barriers, connect markets, and showcase investment opportunities, thereby driving intra-African trade. 2. Impact and Achievements: Over the past three fairs, the IATF has generated approximately $120 billion in trade and investment volumes. The platform has facilitated investment deals, including $32 billion in Cairo in 2018, $42 billion in Durban in 2021, and $43 billion in Cairo in 2023. These deals are actively monitored and contribute to the economic growth of participating countries. 3. Host Agreement with Algeria: Hosting the 2025 IATF in Algeria presents significant economic benefits for the country. It provides an opportunity to showcase Algeria's hospitality infrastructure, attract investments, and promote tourism and culture. The event will benefit various sectors of the economy, including SMEs, micro-businesses, and service providers, stimulating economic growth and creating a ripple effect across the value chain. In conclusion, the Intra-African Trade Fair continues to be a driving force behind the AfCFTA's implementation, fostering collaboration between public and private sectors, facilitating trade and investment, and creating opportunities for businesses across Africa. With Algeria set to host the 2025 edition, the event is expected to further accelerate intra-African trade, promote economic development, and showcase the vast potential for investment and growth on the continent.