The United Nations has called upon Africa to mainstream trade and bio-diversity to unlock wider economic potential under the African Continental Free Trade Area (AfCFTA).
The continent is regarded as one of the most bio-diverse regions on earth yet commitments negotiated so far under the landmark AfCFTA agreement barely mention the environment.
This represents a missed opportunity to achieve sustainable development through trade integration in Africa, as stipulated under the Africa 2063 Agenda, says a new United Nations Conference of Trade and Development (UNCTAD) study entitled “Implications of the African Continental Free Trade Area for Trade and Biodiversity: Policy and Regulatory Recommendations.”
According to UNCTAD, trade in bio-diversity-based products constitutes an important part of African countries’ exports.
In 2017, nearly US$78 billion worth of goods with a biological origin were exported by members of the African Union, 3.5 percent of their combined GDP. Natural capital accounts for between 30 percent and 50 percent of the total wealth of most African countries.
In addition, Africa is home to eight of the world’s 36 bio-diversity hotspots bio-geographic regions with significant levels of biodiversity and nearly one fifth of all mammal, bird and plant species are estimated to live in the continent, says the specialised trade agency.
The study was developed in partnership with the ABS Initiative and examines the link between trade and bio-diversity and the existing parties’ commitments under the AfCFTA.
It recommends ways of transforming the agreement into an enabler of sustainable trade in bio-diversity and a key driver of post-Covid-19 recovery and development in Africa.
“BioTrade could play a pivotal role in establishing a green development pathway for African countries and thus ensure an environmentally friendly recovery from the Covid-19 pandemic,” said David Vivas, an UNCTAD legal officer working on trade and environmental issues, including the BioTrade Initiative.Chronicle
