Paving the Way for Transformation in the African Fashion Industry
In a landmark development at the Intra Africa Trade Fair 2023 in Cairo, Egypt, the Arab Africa Trade Bridges Program (AATB) has inked two pivotal agreements aimed at fostering sustainable growth and development.
Eng. Hani Salem Sonbol, a key figure at the helm of ITFC, Acting CEO of ICD, and Secretary General of the AATB Program joined forces with Dr. Hermogene Nsengimana, the General Secretary of ARSO, to sign a Grant Agreement.
This groundbreaking pact focuses on harmonizing African standards for textiles and leather products, heralding a transformative era for the African Fashion Industry. Notably, it builds upon the successful harmonization of pharmaceutical and medical device standards, aligning with the objectives of the African Continental Free Trade Area (AfCFTA) agreement.
Transformative Harmonization Initiatives
The signed Grant Agreement within the AATB Program takes a giant leap toward transforming the landscape of the African Fashion Industry. By harmonizing standards for textiles and leather products, the initiative sets the stage for a significant overhaul, aligning seamlessly with the broader goals of the AfCFTA agreement.
This strategic move follows the recent success in harmonizing pharmaceutical and medical device standards, marking a concerted effort to elevate trade development and enhance quality in Africa.
Empowering Enterprises through Strategic Partnerships
Spearheading a strategic move, Hani Salem Sonbol and Ms. Pamela Coke-Hamilton, Executive Director of ITC, initiated Phase Two of the transformative “How to Export with the AfCFTA” Program. This collaborative effort with Afreximbank solidifies a Partnership Agreement between ITFC and ITC under the AATB program.
Directly benefiting several African countries, including Benin, Cameroon, Senegal, and Togo, the comprehensive training program aims to impart the fundamentals of exporting within the framework of intra-African trade.
Unlocking Potential – Building Capacity for Intra-African Trade
The primary objective of the “How to Export with the AfCFTA” Program is to raise awareness about the technical nuances and potential opportunities arising from the AfCFTA agreement.
This transformative training initiative empowers enterprises to evaluate their standing in the context of new trading opportunities. With this knowledge, businesses can better equip themselves to strategize and make informed decisions to leverage the benefits presented by the AfCFTA agreement.
Strategic Agreements for Economic Impact
Recognizing the pivotal role of both large and small businesses in Africa’s economic growth and structural transformation, these strategic agreements underline the AATB program’s commitment to promoting trade and investment development.
These initiatives are poised to create a positive economic impact across the continent, reinforcing the program’s influence in shaping African commerce’s future. They reinforce the program’s influence, shaping the future of African commerce.