Libyan PM hails AfCFTA as 'a continental breakthrough' despite challenges
Tripoli, Libya (PANA) - The African Continental Free Trade Area (AfCFTA) represents a historic step forward that strengthens economic integration and opens up new horizons for sustainable development for the African continent, the Chairman of the Libyan Presidential Council, Mohamed Al-Manfi, said on Sunday.
In a speech to the Seventh Biannual Coordination meeting between the African Union (AU) and the regional economic communities and mechanisms, held on Sunday in Malabo, Equatorial Guinea, he said the report presented at the summit showed remarkable progress in the implementation of this initiative, but challenges remain, particularly in terms of trade facilitation, reducing non-tariff barriers and strengthening infrastructures.
Mr Al-Manfi, whose country holds the current presidency of the Arab Maghreb Union (AMU), said the Union was reaffirming its commitment to supporting the AfCFTA by strengthening trade cooperation between Maghreb countries through its institutions, sectoral councils and collective and bilateral agreements, as well as by consolidating economic ties with the rest of the continent, according to a press release issued by the Press Office of the President of the Libyan Council.
Mr. Al-Manfi, whose country is also responsible for the regional economic communities and mechanisms, called for the implementation of the relevant agreements to be speeded up, with an emphasis on support for the least developed countries to ensure their equitable access to this trade area, and for priority to be given to the planning, implementation and financing of infrastructure projects between the countries of the continent.
These include roads linking coastal and landlocked countries, and transcontinental pipelines for the transport of oil, gas and their derivatives between the continent's exporting and consuming countries, as well as between export ports and world markets, and imports from the latter.
“Our national, regional and continental policies should give priority to the production of African raw materials in order to create added value, thereby helping to bridge the financing gap and reduce the need to import manufactured raw materials,” the Libyan leader said.
Mr. Al-Manfi pointed out that the acceleration of Africa's growth has been and continues to be affected by geopolitical developments and the economic and financial tensions that have affected and continue to affect global markets.
“Africa, rich in resources and potential, is facing growing challenges, ranging from financing and food security deficits to the technological and digital divide, as well as the intensification of climate change.”
Mr. Al-Manfi stressed that the need and common interest in this difficult and unstable climate, combined with the instability and internal armed conflicts facing several of our countries, as well as the tensions between several Member States of the Union, require the establishment of effective and active collective mechanisms for African mediation, as well as for the management of international crises, from which we cannot be isolated and whose repercussions we cannot ignore.
In this context, he said that the Arab Maghreb Union (Algeria, Libya, Morocco, Mauritania and Tunisia) is calling for greater African solidarity to meet these challenges, with an emphasis on strengthening their own crisis management capacities, giving the utmost importance to launching African financial institutions, and unifying their positions on the restructuring of international financial institutions, the United Nations Security Council and the United Nations Framework Convention on Climate Change.
“We also stress the importance of strengthening the role of the New Partnership for Africa's Development (NEPAD) and the African Standby Force in guaranteeing security and stability, the foundations of all sustainable development,” he said.
Mr.Al-Manfi pointed out that the meeting comes at a crucial time to discuss the main challenges facing the continent, from the AfCFTA to regional and international geopolitical developments affecting African countries, particularly those linked to supply chains, as well as the role of NEPAD in promoting continental and regional integration, and the division of tasks between the Member States, the Union and the Regional Economic Communities (RECs).
In his view, NEPAD remains an essential pillar in the realisation of the African Union's Agenda 2063, saying that its efforts in developing infrastructure, promoting sustainable agriculture and supporting technological innovation are crucial steps towards continental integration.
In this context, he stressed that the Arab Maghreb Union reiterates its full support for NEPAD, stressing the need to strengthen coordination between it and the regional economic communities and to attach greater importance to building human and economic capacities, in particular the creation of an industrial base for raw materials and natural materials produced in Africa.
“Close cooperation between these groups and mechanisms will help accelerate development and strengthen Africa's competitiveness on the world stage,” he argued.
-0- PANA BY/IS/BBA/MA 13July2025
