Track: Sustainable Manufacturing

Abstract

Creating regional value chains and infrastructure is essential for the advancement Africa Free Trade Agreement (AFCTA) and BRICS strategic objectives, this   takes into perspective the preferential trade agreements, leveraging of investment leading to sustainable industrialization and economic growth. The potential to achieve the mentioned scenario is feasible taking into consideration the abundance of primary mineral resources in the continent accompanied by common market with a population of 1.2 billion and a GDP of $ 2.3 trillion Creamer (2021);  accompanying this approach is the emphasizing  manufactured value added products and graduating away from export of primary products to tertiary as this will result in a high level of competitiveness and export driven economies impacting positively on nations balance of payments. This further complemented and advanced by African countries such as South Africa since 2010 and recently Ethiopia being members of BRICS; this forms part of emerging markets represents 42% of the world population and account for over 31% of the world's GDP. For economic and industrial policy around matters of preferential and free trade to transpire as well as sustainable industrialization entailing competitiveness, export driven economy, improved enterprise supply development, improved local content, employment creation and growth in sectors and economy it is essential that the Purchase Power Parity embraced by the International Comparisons Programme in integrated in the AFCTA and BRICS strategy towards regional value chains, as it objectively analyses the subject matter of free and preferential trade between nations leading to fairness and comparative advantage.