The German Institute of Development and Sustainability (IDOS) (formerly German Development Institute/ Deutsches Institut für Entwicklungspolitik (DIE)) and the Kiel Institute for the World Economy (IfW) organised a joint International Research Conference on “Africa’s regional and global integration – Lessons from the past and implications for the future”. The conference was held on 17th and 18th November 2022 at the German Institute of Development and Sustainability (IDOS), Bonn, Germany. It provided academia, policymakers, and development experts a platform to discuss the roles of the African Continental Free Trade Area (AfCFTA) in Africa’s development.
Professor Evans Osabuohien was among the invited speakers and he gave a breakdown African Continental Free Trade Area (AfCFTA) and what it stands for. During the presentation, which was titled Africa’s Development in a Post-COVID-19 World: Roles of AFCFTA and FDI, he gave a detailed explanation of the opportunities available at AfCFTA, as well as the expectations. He further gave a detailed explanation of the analytical framework and methodological approach that would be essential in articulating the roles that foreign direct investment (FDI) could play on Africa’s development, on one hand, and AfCFTA, on the other.
According to Professor Evans Osabuohien investment and trade resulting from the implementation of AfCFTA could help foster Africa’s development. He equally noted the relevance of institutional framework in the nexus between AfCFTA and FDI in influencing development outcomes in Africa.
In conclusion, he recounted that AfCFTA offers numerous opportunities including employment, and entrepreneurship business development, among others and the specific vision of this free trade area is to integrate, diversify and industrialise African countries.
It would be recalled that Prof Evans Osabuohien has made related presentations on AfCFTA. They include “From Phase 1 to Next Step of AfCFTA: Opportunities amidst Adversities for Nigeria” (October 2021, Lagos Nigeria) and “Africa’s Development in the Post-COVID-19 Era: Historical Antecedents and Future Prospects” (June 2019, Bonn Germany).