PRIVATE SECTOR INVOLVEMENT IN AFCFTA AGREEMENT IMPERATIVE

MBABANE – ‘The role of the private sector is key in the implementation and utilisation of the AfCFTA agreement’.

This was mentioned by United Nations (UN) resident coordinator George Wachira during the African Continental Free Trade Area (AfCFTA) national consultative forum for the development of the national AfCFTA implementation strategy and action plan launch yesterday. Wachira said AfCFTA offered clear opportunities for Eswatini to anchor its industrialisation strategy on the market opportunities offered by this agreement. He said The AfCFTA has immense opportunities for increasing intra-regional trade, enhancing production, promoting economies of scale, creating jobs, raising of incomes and improving the standard of living of the African people.

The UN representative said it was important to note that the AfCFTA Agreement was not self-executing; it requires Eswatini to deploy deliberate strategies towards ensuring that the private sector, as key stakeholder in production and trade, was primed to explore a larger market and product opportunities offered by the AfCFTA, with reduced tariff and non-tariff barriers. He added that it was imperative to, among others, address supply-side constraints limiting the productive capacity of industry to stimulate competitiveness. “Coherence between the National Industry Policy and trade promotion initiatives is critical,” he added.

Consensus

Wachira also mentioned that the effective utilisation of the AfCFTA would require consensus among all stakeholders including the private sector, government, academics, civil society, women and youth organisations. Hence, he said it was imperative to establish a well-resourced national AfCFTA committee, as part of the framework to entrench and facilitate the required consultative processes in the implementation of the agreement.
“When a country opens its borders for more trade and investment opportunities, some will express fears and concerns on the effects of open trade on local operators,” he said.

The UN representative added that the role of the private sector was key in the implementation and utilisation of the AfCFTA agreement. He said the establishment of a coordination mechanism that brought together key players would make great strides to enhancing trade. Acting Principal Secretary (PS) in the Ministry of Commerce, Industry and Trade Cebile Nhlabatsi added that Africa was seeking to find collectively, practical ways of unleashing the embedded potential of the continent. She said this was imperative to the continent and its people so that they can together build an integrated and peaceful continent, driven by its own people, representing a dynamic force in the international arena.

Achieve

To achieve this, Nhlabatsi said Africa cannot be the raw material producing and exporting economy of the past. She said the continent had to be an economy based on value-addition and industrial activities, as well as trade with itself. “The role of the private sector is very critical for changing the landscape of the African continent,” she added. The acting PS added that there was therefore a need for the private sector to collaborate with government and prioritise private and public partnerships in order for us to increase our proactive capacity.

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: