Minister of Trade and Industry, Simplex Chithyola Banda, has said this year’s African Union Day celebration theme, ‘Accelerating the Implementation of the African Continental Free Trade Area (AfCFTA),’ resonates deeply with Africa at a time when the continent is striving to recover from external shocks arising from rising international prices of goods and the adverse effects of the COVID-19 pandemic.

Chithyola Banda expressed these sentiments today during this year’s African Union (AU) Day celebration at the Bingu International Convention Centre (BICC) in Lilongwe, where he was the guest of honour.

He said that AfCFTA, which integrates small and fragmented markets into one larger market to promote trade within AU member states, offers multiple benefits to Africa, including the capacity to boost regional income by 7 percent, equivalent to 450 billion United States Dollars, elevate wage growth, and lift 30 million Africans out of extreme poverty by 2035, among other advantages.

The Minister emphasized that Malawi, as a member state, proudly supports the flagship AU Project, which aligns with the dreams of AU founding fathers to create a united and integrated Africa.

AU Permanent Representative to Malawi, David Pierre applauded AU founding fathers for laying the foundation for the continent’s transformation in terms of social and economic well-being. He called upon all Africans, both on the continent and in the diaspora, to participate in developing the continent in peace, unity, and solidarity.

The event brought together Africans from 15 countries who set up pavilions to showcase their food and products manufactured in their respective countries.