29th February 2020
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The two-day Horn of Africa trade forum ended Friday in Addis Ababa with participants agreeing that with the African Continental Trade Agreement (AfCFTA) now in force, it was time for the continent to increase domestic production of pharmaceutical products and end over dependence on imported medicines.

The AfCFTA, they agreed, provides an opportunity for economies of scale, lack of which previously hindered African pharmaceuticals production.

Economic Commission for Africa’s (ECA) Director for Regional Integration and Trade, Stephen Karingi, in closing the forum which focused on pharmaceutical, said domestic policies that can be used to support the industry include investment assurances, grants, fiscal incentives and local content requirements.

Read more: Number Of African Countries Who Have Ratified The AFCFTA Agreement Rises To 22