Stimulate Trade and Private Sector Development for Growth and Job Creation
The private sector is essential to development, acting as a powerful engine of economic growth, particularly in developing countries. It lays the foundation for sustainable job creation and serves as a lever to reduce income inequality.
54 African countries signed a pact establishing the African Continental Free Trade Area (AfCFTA), one of the important milestones of the African Union’s Africa 2063 agenda.
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BADEA’s operations will continue to be market-oriented in the private sector and trade. However, the Special Economic Zone (SEZ) approach offers the potential to facilitate Arab-African cooperation, maximize synergistic opportunities for location and industry preferences. Given the complexity of establishing SEZs, BADEA will initially partner with other development agencies that have existing programs in such zones. It could then focus on specific areas, such as the Halal economy, within the SEZ.
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