WTO DG Urges Africa to Cut Trade Costs, Invest in Skills and Technology

The Director-General of the World Trade Organisation, Ngozi Okonjo-Iweala, says it costs Africans about 20 percent more to trade within the continent than with other parts of the world. In an interview, she said the high cost of intra-African trade shows deep structural issues that must be urgently addressed to unlock the continent’s economic potential.

Okonjo-Iweala described the African Continental Free Trade Area (AfCFTA) as one of the best initiatives for boosting regional trade but noted that its implementation must be accelerated. She lamented that only about 15 to 20 percent of Africa’s trade is within the continent, compared to over 60 percent in the European Union.

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The WTO chief also urged African countries to invest in education, technology, and infrastructure to prepare for a rapidly growing population expected to reach 2.5 billion by 2050. She said the continent’s youth could be a major global resource if properly skilled and equipped to drive innovation.