The African Continental Free Trade Area will be opening next month, providing significant economic gains in the face of COVID. 30M people could be lifted out of extreme poverty & the continent could see $450B in income. Thread on food/ag impacts + what Biden admin could do:
AfCFTA could facilitate access to a larger supply of cheap, higher quality food products and improve food security, but could also displace small-scale food producers. Smallholders could be provided support to access export markets within the continent. http://www.fao.org/3/cb0648en/CB0648EN.pdf
As Africa imports $72B worth of food + ag products, intra-regional trade could help make a more self-sufficient Africa, if the continent increases its agro-processing infra to create higher-value food products https://foreignpolicy.com/2020/11/13/afcfta-free-trade-africa-economics/
Govt investment will be needed in transport, ag + food, & power infra to maximize value from AfCFTA, which is a challenge given COVID. Multi- & bilateral institutions could provide $$$.
The Biden admin should upgrade the US's foreign policy towards Africa and sign a new trade agreement that increases AfCFTA's effectiveness & coordinate w/ the US's Development Finance Corp to upgrade infra across Africa
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