LIBREVILLE, Gabon — In a press conference held in Libreville, the Secretary-General of the African Continental Free Trade Area (ZLECAF), Wamkele Mene, emphasized his commitment to supporting Gabon’s reintegration into the regional trade bloc following the country’s suspension from the African Union.
The ZLECAF, with 55 member states and a combined GDP of over $3. 4 trillion, represents the largest market in the world. Mene highlighted the opportunities the ZLECAF presents for Gabon to promote its products across the continent, particularly in sectors like wood, pharmaceuticals, and manufacturing.
During his official visit, Mene commended the Special Economic Zone of Nkok’s model, especially in the wood and pharmaceutical industries. He expressed his desire to collaborate with the Nkok Special Economic Zone to explore diversification of supply chains and expand the Gabonese market beyond the Central African region.
The ZLECAF aims to accelerate industrialization and integration through digital tools, including the Kiossi one — stop border post project, which aims to boost cross-border trade. Mene also noted that the Gabonese private sector could fully capitalize on the 1. 4 billion consumer market within the ZLECAF.
He guaranteed that the annexes of the agreements define protocols for harmonizing customs and tax systems to ensure interoperability.
The ZLECAF plans to protect developing countries and ensure the development of all member states, he explained.
Gabon’s government, alongside international financial institutions and private sector entities, has been actively preparing for this integration. Notably, the Gabonese government, the International Finance Corporation (IFC), Gabon Power Company (GPC), and EDF Power Solutions signed a letter of intent to finance the country’s largest hydroelectric project in Booué, reflecting Gabon’s commitment to renewable energy and economic development. Challenges remain, as reported by Gabonreview.
Com, with the Union démocratique des bâtisseurs (UDB) party postponing a congress, indicating political and organizational hurdles that Gabon must address. Despite these challenges, the ZLECAF’s partnership with Gabon is crucial for the country’s industrial sector development and integration into the African market.
The ZLECAF’s support for Gabon’s economic growth is part of a broader strategy to enhance intra-African trade and economic cooperation. With the agreement expected to create a single market for goods and services across the continent, the partnership is set to play a pivotal role in shaping Gabon’s economic future.
As Gabon embarks on this new chapter, the ZLECAF’s commitment could be instrumental in overcoming the obstacles that lie ahead.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: Agpgabon
Source: Redaction
