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Second IATF2020 set to generate US$40mn in trade Deals

During the signing of the hosting agreement in Kigali. (Image source: Afreximbank)

The second Intra-African Trade Fair (IATF2020) will take place in Kigali from 1-7 September 2020, focussing on the execution of intra-African trade deals worth more than US$40 billion

This is announced by Benedict Oramah, president of the African Export-Import Bank (Afreximbank).

Oramah was speaking in Kigali at the signing of the hosting agreement for IATF2020 by the Government of Rwanda, Afreximbank and the African Union.

Soraya Hakuziyaremye, minister of trade and industry of Rwanda, signed for the Government while Oramah signed for Afreximbank and Albert Muchanga, commissioner for trade and industry of the African Union, signed for the organisation during the ceremony held at the Transform Africa Summit taking place in Kigali.

Oramah said that for IATF2020, which is being organised by Afreximbank in collaboration with the African Union (AU) and hosted by Rwanda, the partners had set themselves the ambitious target of attracting more than 1,000 exhibitors and hosting over 10,000 buyers and conference participants from over 50 countries.

According to him, the trade fair will build on the progress made in the first Intra-African Trade Fair held in Cairo in 2018 to achieve more far-reaching results in terms of impact in promoting intra-African trade.

Oramah said that IAATF2020 would include an IATF Trade and Investment Forum which will look at the practical challenges affecting AfCFTA implementation and provide solutions on how to address them and exploit the benefits offered by the Agreement.

Afreximbank will showcase some practical solutions including the Pan-African Payments and Settlement System which will be launched at the AU Extra-Ordinary Summit of Heads of State and Government in Niamey in July 2019.

Muchanga said that the partners in the IATF had succeeded in creating a brand and that the trade fair was a platform for sharing trade information. It brought together buyers and sellers and created access to financing for businesses.

Hakuziyaremye expressed Rwanda’s appreciation at being selected to host IATF2020 and said that the country was committed to building on the success of IATF2018 to ensure a successful event in 2020.

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