The NEPAD Agency has signed a Memorandum of Understanding (MoU) with Fairtrade Africa, to promote socio-economic development through trade.

The signing took place after several consultations between NEPAD Agency and Fair trade Africa; certified producers whose main task is to represent the interest of Fair trade agreed to strengthen their partnership in support of trade in Africa.

A release issued by NEPAD Office and copied to Ghana News Agency in Accra said through joint activities, NEPAD would be able to better access Fairtrade Africa’s extensive network in order to facilitate access of African smallholder farmers to high level markets, by connecting producers and consumers, promoting fairer trading conditions and empowering producers to combat poverty.

It said Mr Michael Kwame Nkonu, Executive Director of Fairtrade Africa, signing on behalf Fair trade said aligning the Fairtrade initiatives with NEPAD’s value chain capacity development programme and the Agribusiness and Trade Promotion Strategy would help contribute towards the realisation of this year’s 18th AU Summit on the theme: “Boosting Intra-African Trade.”

In return, mainstreaming Comprehensive Africa Agriculture Development Programme into Fairtrade will lead to the contribution of the programmes growth targets and agriculture-led development in Africa.

In Africa, Fairtrade is working in 28 countries with more than 290 producer organisations, representing more than 600,000 individual farms and workers involved in various value chains including coffee, cocoa, tea, vegetables, fruits, wine, cotton and seeds and nuts.

“We need to change the way trade works in Africa; if we don’t trade amongst ourselves, we will not achieve the overall aim of Intra-African Trade,” he added.

Mr Bankole Adeoye of NEPAD, signing the MoU, said intra-African trade, is an area of potential growth during these times of global economic crisis and Fair trade Africa is bringing Fairtrade consumption to the African consumer market.

The partnership with NEPAD would help create access and transform the lives of Fair-trade farmers across the continent.

Among the objectives of the MoU would be joint resource mobilisation, facilitation of Fairtrade activities in the African wide region, capacity building of producer organisations and support of women in the Fair Trade business.