Zim begins consultations on Free Continental Trade Area implementation trategy

17 Jun, 2019 - 14:06 0 Views
Zim begins consultations on Free Continental Trade Area implementation  trategy

eBusiness Weekly

HARARE – Zimbabwe will this week start canvassing for stakeholder input into its national strategy for implementing the African Continental Free Trade Area (AfCFTA), which will guide its participation in the continental grouping.
The AfCFTA, a flagship project of the African Union (AU) Agenda 2063, came into force last month, becoming the world’s largest free trade pact following its ratification by 24 AU member states, including Zimbabwe.
It is expected to create a single market of over 1.2 billion people for the 54 African countries with a combined Gross Domestic Product of $3.4 trillion.
To take full advantage of the free trade area, the Ministry of Foreign Affairs and International Trade in partnership with the Economic Commission for Africa Office for Southern Africa (ECA-SA), the AU Commission (AUC), and the African Trade Policy Centre will next week hold a national consultative forum to begin the process of crafting Zimbabwe’s AfCFTA strategy.
The national implementation strategies, being developed by African countries, will focus on each country’s priority interests within the continental and global development agenda.
“The key objective of the forum is to consult national stakeholders in making inputs in developing Zimbabwe’s national AfCFTA strategy,” read part of a statement from ECA-SA.
“Once completed, the AfCFTA implementation strategy will complement the broader trade policy of the country and identify Zimbabwe’s key trade opportunities, current constraints and steps required for it to take full advantage of national, regional and global markets in the AfCFTA context.”
National trade experts, representatives of ECA and the AUC and key economic and social Ministries will attend the forum, which is also expected to lay bare the importance and relevance of the AfCFTA to Zimbabwe and the opportunities it brings.
“The meeting is also expected to consolidate proposals from various stakeholders on the effective implementation strategy of the AfCFTA and guide the composition of the National Committee on the AfCFTA, which will oversee the implementation of the Agreement in Zimbabwe,” ECA-SA said.
“The Forum is part of a wider programme to develop a national AfCFTA implementation strategy, which includes a nation-wide consultation.”
The AfCFTA is expected to be a key engine of economic growth, industrialisation and sustainable development in Africa.
The main objective of the AfCFTA is to create a single continental market for goods and services, with free movement of business persons and investments, thus paving way for accelerating the establishment of the Continental Customs Union and the African customs union. – New Ziana

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