President Muhammadu Buhari, Nigeria’s president is among the seven heads of State expected at the 2021 Intra African Trade Fair (IATF) which commences Monday with an opening ceremony at 10 am.
President Cyril Ramaphosa will deliver the keynote address at the opening session. The IATF2021 is a trade show that provides a platform for linking international buyers, sellers, and investors as well as allowing for participants and visitors to profile and share market information and investment opportunities in support of intra-African trade and the economic integration of the continent.
Meanwhile, Olusegun Obasanjo, former President of the Federal Republic of Nigeria, arrived in South Africa on Sunday.
At 11.40 there would be a presentation on The Power of trade fairs in opening markets and building trade and investment bridges”, by Pamela, Rosemarie, Coke-Hamilton, executive director, International Trade Centre, and Akinwumi Adesina, president of the African Development Bank Group.
Hosted by the South African government in conjunction with African Export-Import Bank (Afreximbank), IATF2021 has the theme ‘focussing on the newly-launched African Continental Free Trade Area (AfCFTA)’.
The free trade area is an African Union initiative that creates a single continental market for goods and services, with free movement of business persons and investments.
The Trade Fair is expected to draw more than 10 000 visitors and buyers with more than 80 South African companies, supported by the government, having an opportunity to showcase their products and services.
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The IATF2021 will include more than 1 000 exhibitors from across Africa showcasing their goods and services.
The seven-day exhibition includes a packed programme of conference sessions featuring key leading African and international thought leaders and experts.
IATF offers Nigerian businesses the platform to key into regional value chains to extend their operations into the higher value segments of their industries and to satisfy rules of origin requirements to enjoy the duty waiver and mutual recognition arrangements that will accrue from African Continental Free Trade Agreements (AfCFTA).
The Trade Fair will provide a unique and valuable platform for the South African businesses to access an integrated African market of over 1.2 billion people with a Gross Domestic Product of over US$2.5 trillion created under the African Continental Free Trade Area (AfCFTA).
The Trade Fair offers South Africa an opportunity to profile and market proudly South African goods and services, build lasting networks and establish collaborations that will increase South Africa’s goods and services exports into the continent and position South Africa as the partner of choice.
South Africa will leverage the Trade Fair to highlight the best of local manufacturing capabilities in, among others, the agriculture and agro-processing sector; automotive; construction and infrastructure development; consumer goods; energy and power; engineering; footwear; leather and textiles heavy Industries and light manufacturing; health care and pharmaceuticals; Information and Communication Technology and Innovation; logistics; and mining sectors.
