The recently concluded 9th African, Caribbean and Pacific (ACP) summit has seen member states rally support towards the growth of inter-Africa trade.
For instance, the countries advocated for the establishment of air and sea trading routes between the three regions. The move is aimed at increasing ACP’s global trading from 3% to 10% in the next ten years.
Additionally, opening up of the sea and air lines will provide an ample ground for the private sector to thrive.
The air and sea trading links will be the first step of realizing our long term goal of increasing ACP’s share of global trade. This way, we can leverage on our combined economic strength.President Uhuru Kenyatta, ACP Chairman
Furthermore, member states also developed an endowment fund that seeks to promote the sustainability of the group’s activities. Different countries pledged fund support including Kenya, Papua New Guinea and Ghana.
Other developments that also took place during the summit include the endorsement of a new 20-year ACP-EU partnership, which will be signed next year. The partnership, once signed, will be geared towards poverty eradication and integration of ACP States into the global economy.