AFCFTA IMPLEMENTATION STRATEGY GETS GREEN LIGHT

MBABANE – The AfCFTA implementation strategy for Eswatini (2024 – 2028) has been endorsed as one that places the kingdom in a better position to benefit from this agreement and diversify its export markets.

African Continental Free Trade Area (AfCFTA) Secretary General, Wamukele Mene, said the recently launched strategy places the country in a better place to diversify its markets outside the SACU and SADC markets. Mene was speaking during the private sector engagement with the secretary general of the African Continental Free Trade Area (AfCFTA) held on Friday.
Mene stated that the agreement presented new opportunities for the private sector. He said through those opportunities, the private sector companies would be able to create more jobs for emaSwati. “We do not need to scramble for access in certain markets, when we can leverage on the single market provided by the #AfCFTA Agreement,” said Mene.

The secretary general further implored the private sector to consider doing business beyond its regional markets to take advantage of the AfCFTA for income and job creation, and foster overall economic growth and development in the continent. It is worth noting that in March, the Government of Eswatini launched the implementation strategy, which builds on existing efforts and propels the small landlocked country towards increasing its local production base and export orientation. Mene said clearly the AfCFTA was not just about trading, but also creating new investment and market opportunities for the private sector.

Trading

Acting Minister of Commerce, Industry and Trade, Dr Tambo Gina, said the visit by the Secretariat came at a time when the Ministry of Commerce Industry and Trade, had already announced the country’s readiness to start trading under the agreement. He said the announcement follows the completion of the necessary processes, including gazetting of the SACU tariff offered by the five SACU countries. He stated that the announcement also called upon the traders to register to trade under the AfCFTA and to approach the relevant offices to be assisted with information on the requirements for them to take advantage of the agreement.

Gina said it is Eswatini’s wish to expand our trade with Africa beyond the traditional markets, such as SACU, SADC, COMESA and the EU. “We are looking forward to receiving the technical expertise from the Secretariat, especially guidance on the country’s priority sectors covering both goods and services, as articulated in the national implementation strategy, and also to build a strong collaboration between Eswatini and the Secretariat, which will result in continuous building of capacities not only for the traders but also for the agencies supporting the implementation of the agreement,” said the minister.

Dr Gina said Eswatini realises the need for concerted efforts and commitment from all key national stakeholders including government, private sector, as well as non-State actors to implement the actions identified in the national AFCFTA implementation strategy and the engagement today is evidence of that.

Exports

He added that the country had also identified potential products in the development of value chains for exports into the African market. He said this work was not a one-day job, but it required continuous consultations with relevant partners including the AfCFTA Secretariat, especially in guiding this important work. The minister implored the private sector to explore and make use of the opportunities provided by this agreement as they will be presented by the AfCFTA Secretariat. The Kingdom of Eswatini as a member of the African Union (AU) signed the Agreement establishing the AfCFTA in March 2018 during the Summit of Heads of State and Government, held in Kigali, Rwanda.

Benefit

Eswatini ratified the agreement during the same year, which qualifies the country to benefit from preferential market access within the AfCFTA covering both trade in goods and services. The AfCFTA is an important initiative in increasing Eswatini’s exports, facilitating investment and increasing the country’s prospects of stimulating industrialisation including value chain development, employment creation, income generation and poverty reduction. The AfCFTA Agreement came into force in May 2019, with the start of trading to commence on January 1, 2021. Trade among State parties is currently taking place under the Guided Trade Initiative (GTI) and about eight State parties are already trading under this initiative.

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