in Short
Regional integration: The African Union Commission (AUC) and the International Trade Centre (ITC) sign a memorandum of understanding to unblock intra-African trade
The African Union Commission (AUC) and the International Trade Centre (ITC) have signed a Memorandum of Understanding (MoU) at the AU headquarters in Addis Ababa, the Ethiopian capital, aimed at unlocking intra-African trade through the empowerment of small businesses across the continent.
According to the MoU, both parties encourage inclusive trade in Africa by incorporating small businesses into the regional economy and promoting the sharing of trade and market intelligence across Africa through the African Trade Observatory (ATO).
The renewed agreement, according to ITC, will also respond to changes in the global economy and the regional integration process underway in Africa, supported by the African Continental Free Trade Area (AfCFTA).
