INVEST IN AFCFTA’S E20 TRILLION MARKET POTENTIAL - HMK
SEOUL, KOREA - His Majesty King Mswati III has invited Republic of Korea businesses to invest in Africa, using the Kingdom of Eswatini as its launch pad.
He said businesspeople can take advantage of the approximately E20 trillion (one trillion US$) in Intra-Africa trade by next year, as a result of the African Continental Free Trade Agreement (AfCFTA). His Majesty the King, speaking through Commerce, Industry and Trade Minister, Manqoba Khumalo, during the Korea-Africa Business Summit here, said Eswatini offers a predictable investment climate with a highly skilled labour force.
Manufacturing
His Majesty said the manufacturing and agricultural sectors will experience the biggest gains from the liberalisation of goods. “This offers prospects for agriculture, including agro-processing, automotive, textiles, clothing, leather products and other value-adding economic activities in Eswatini.“At full implementation, Africa’s manufacturing sector has the potential to reach one trillion US$ (E20 trillion) in 2025, creating 14 million stable jobs. The King said he has no doubt that AfCFTA will bring the required impetus to the promotion of trade among African countries.“It will also provide African countries, including Eswatini, with a huge market share of 1.3 billion people and a wide market access of 3.1 billion US Dollars (approximately E60 billion).
“We believe that it has the potential for broader and deeper economic integration and would attract investment, boost trade, including intra-African trade, provide better jobs, reduce poverty, and increase shared prosperity in Africa,” he said. His Majesty the King said the vision is a good augmentation of the job creation drive to alleviate the scourge of youth unemployment within the continent. The King said in the short to medium term, Eswatini’s ambitions are to focus on specific sectors, in which investors from Korea and abroad can take advantage, which include manufacturing and agriculture-processing, agriculture, energy, mining, tourism, education and ICT. “We believe that these sectors have great potential for advancing our economic growth and creating jobs for emaSwati. They are in line with our regional integration agenda with a concurrent focus on liberalising trade in services, as these are the backbone of the markets,” the King said.
del.icio.us |
Digg
Post your comment 
https://zencortex.colibrim.ca I was suggested this website by my cousin. I'm not sure whether this post is written by him as no one else know such detailed about my trouble. You're wonderful! Thanks! https://zencortex.colibrim.ca
on
16/10/2024 11:47:32
https://fitspresso.colibrim.ca Hi there to every one, since I am truly eager of reading this website's post to be updated daily. It consists of nice data. https://fitspresso.colibrim.ca
on
16/10/2024 05:03:21
LeonardQuora
on
16/10/2024 04:31:08
https://zencortex.colibrim.ca I am really impressed with your writing skills as well as with the layout on your weblog. Is this a paid theme or did you modify it yourself? Anyway keep up the nice quality writing, it's rare to see a great blog like
on
16/10/2024 02:57:17
RandyFaimb
on
16/10/2024 01:02:23
Comments (0 posted):