“Work has been underway to deepen Canada’s relationship with Africa, and the launch of today’s public consultations takes this progress another step further. Your feedback will ensure the Canada-Africa Economic Cooperation Strategy supports the creation of meaningful commercial opportunities across our continents and equips Canadian entrepreneurs with the tools they need to diversify and grow.”

– Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development

• Africa’s is home to 5 of the top 10 fastest-growing economies in the world, and once fully implemented, the African Continental Free Trade Area will be equivalent to the world’s fifth-largest economy, with the potential for a combined GDP of more than $4.6 trillion.
• The first Canada-African Union Commission Trade Policy Dialogue, held on May 17, 2023, offered opportunities to discuss trade policy issues of mutual interest and will contribute to Canada’s ongoing efforts to solidify a comprehensive partnership with the African continent. The Trade Policy Dialogue builds on the first Canada-AUC High Level Dialogue, which was held from October 26 to 28, 2022.
• In 2022, Canadian direct investment in Africa stood at $15.7 billion, while African foreign direct investment stock to Canada amounted to $2 billion.
• In 2022, Canada’s merchandise trade with African countries totalled $15.1 billion.
• Canada has foreign investment promotion and protection agreements with Benin, Burkina Faso, Cameroon, Côte d’Ivoire, Egypt, Guinea, Mali, Senegal and Tanzania. These agreements provide stable, rules-based environments for investors.
• Canada provides support to African exporters and to foster an inclusive, rules-based and open trade policy in Africa through partnerships that include the Global Alliance for Trade Facilitation, Trademark Africa and Trade Facilitation Office Canada.
• Canada is partnering with the United Nations Development Programme and various African regional economic communities to advance gender equality and women’s economic empowerment in trade policy in Africa.
• In June 2022, Canada announced both the establishment of a dedicated mission and permanent observer to the African Union in Addis Ababa, Ethiopia, and the conversion of the Canadian office in Kigali, Rwanda, into a high commission to enable Canada to strengthen ongoing efforts with the African Union on shared priorities and further strengthen its diplomatic relationship with Rwanda.

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Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TradeMark Africa.