Linkages between AfCFTA, Peace Fund a path to sustainable dev’t: AUC Director

Addis Ababa, August 3, 2023 (FBC) – Peace and security are a prerequisite for sustainable economic development and vice versa. With focus on the acceleration of the African Continental Free Trade Area (AfCFTA), the African Union Commission Director of the Peace Fund Secretariat, Dagmawit Moges, said that Peace Fund is a critical element to support intra-African trade.

AUC Director, Peace Fund Secretariat, Dagmawit Moges, in her recent Op-Ed, elaborated on the interwoven strategies that can be harnessed to propel Africa towards a prosperous, inclusive, and peaceful future as envisaged in Africa’s Agenda 2063.

She says AfCFTA and Peace Fund Engines for Integration, Prosperity and Peace, adding that the AfCFTA is an innovative instrument for igniting economic integration, prosperity and directly contributes to peace and security in Africa.

Dagmawit added that the economic rejuvenation of the AfCFTA carries inherent peace dividends: increased integration, interdependence, and cooperation significantly promotes peace.

“The AfCFTA forges an integrated economic landscape that acts as a deterrent to conflict due to heightened economic interdependence and activity. By fostering economic growth, and creation of decent jobs, the AfCFTA directly addresses economic inequalities, a well-established root cause of social unrest and conflict, and in doing so, contributes indirectly to stability and security on the continent, amplifying its role beyond economic integration”, Dagmawit said.

Whilst the AfCFTA is the engine driving economic growth, she further explains that the Peace Fund is a linchpin mechanism that together with other mechanisms instituted by the African Union that work to support the prevention, management, and resolution of conflicts, and facilitates timely and effective responses to conflict and crises in Africa.

Recognizing that the prosperity of Africa is intricately linked to its stability and security, and as a key pillar of the African Peace and Security Architecture (APSA), the Peace Fund delivers timely and effective support in the areas of mediation and preventive diplomacy, AU led peace support operations, and in the development of core institutional capacities that strengthen responses to conflict and build resilience, Dagmawit has stated.

The relationship between AfCFTA and the Peace Fund creates a virtuous cycle that enhances economic prosperity and ensures peace and stability, Dagmawit said adding that Peace and stability is enhanced by the utilization of the Peace Fund and it is a prerequisite for AfCFTA’s seamless implementation.

“The AfCFTA and the Peace Fund are mutually reinforcing, demonstrating the fundamental symbiosis between economic development and peace and security. This symbiotic relationship extends beyond Africa’s borders. As the continent becomes more peaceful and economically robust, it can forge stronger partnerships on the global stage. A peaceful Africa attracts foreign investment, which further fuels economic growth, while an economically prosperous Africa can contribute more significantly to global peace and security efforts” the Peace Fund Secretariat said.

As Africa strives to achieve its vision of a unified, peaceful, and prosperous Africa, the intricate nexus between AfCFTA and the Peace Fund remains important mechanisms, she adds.

“The mutual benefits and positive cyclical relationship will propel Africa towards realizing its Agenda 2063. Sustainable peace, security, and economic development in Africa are not just interconnected goals; they are interdependent pillars that uphold the continent’s vision of a unified, peaceful, and prosperous Africa” Dagmawit said.

“As the continent continues to strive for this vision, understanding and leveraging the symbiotic relationship between AfCFTA and Peace Fund will undoubtedly be key to its success, the African Union Commission Director of the Peace Fund Secretariat, Dagmawit Moges, in her Op-Ed, shares the insight.