For the third year running, the Pan-African Private Sector Trade and Investment Committee (PAFTRAC) have partnered with African Business magazine for the Africa CEO Trade Survey.
This year, over 800 executives active in the continent, from 46 countries in Africa, responded to the Africa CEO Trade Survey.
Speaking on the survey results, Prof Pat Utomi, Chairman of PAFTRAC, shared that the “survey clearly shows that the vast majority of African CEOs believe that the implementation of the AfCFTA will have a positive effect on levels of intra-African trade, even as early as 2022-23.
While intra-African trade and the AfCFTA plays a big part in the report, the Survey also highlighted how African businesses see opportunities in external markets. Prof Utomi explained that “African companies do not seem to greatly favour exporting to any one region of the world over another.
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The PAFTRAC Africa CEO Trade Survey report was launched during the Afreximbank Annual Meetings, which is being held in the New Administrative Capital of the Arab Republic of Egypt from until 18 June 2022.
The Pan-African Private Sector Trade and Investment Committee (PAFTRAC) unites African leaders from the private sector and provides a unique advocacy platform bringing together the African private sector and African policymakers to support extra and intra-African trade, investment, and pan-African enterprise.
The platform drives pan-African results by providing a framework for private sector engagement in trade and investment issues in Africa, including policy formulation and trade negotiations to support African economies in line with the ambitions of Agenda 2063: “The Africa We Want”.
PAFTRAC enhances advocacy and supports policy actions and recommendations of the private sector on trade, and investment issues at the national, trade corridor, regional and multilateral levels.