Government says Zambia will only sign up to the African Continental Free Trade Area (ACFTA) after thorough engagements with stakeholders and the private sector in the country.
The AFCFTA was officially launched on 21st march 2018 as part of Africa’s wider agenda to boost intra Africa trade in line with agenda 2063.
Once fully operational, the AFCFTA will be the largest trading bloc on the continent bringing together 55 African countries with a combine population of more than 1 billion people and a combines GDP of more than US$3.4 trillion.
Speaking during a high level sanitization meeting on the continental free trade area, Commerce Trade and Industry Minister Christopher Yaluma says his ministry welcomes collaborations from various partners to create awareness and prepare the private sector and the common man for the agreement.
Mr. Yaluma says there is need for the private sector and all stakeholders in the area of trade to take keen interest in developments taking place in the context of the African continental free trade area.
He has since called on the private sector, and manufacturers to continue working towards enhancing productivity and promotion of trade in value added products to create the necessary competitive edge at both regional and continental level.
Speaking at the same meeting Transport and Communications Minister Brian Mushimba affirmed his ministry’s commitment in ensuring that there is proper and adequate infrastructure at local, regional and continental level that will contribute to the enhancement of trade.
CONSULT CONSULT…….!!!!!! THAT THE WAY
Sounds like that trade agreement has no cash benefits.
No wonder Africa is poor. With a population of over a billion people, well, that is a huge market. The trouble is that most African countries prefer to conduct trade with countries outside of Africa. The common market area is meant to correct that.
MY ADVISE IS THAT PLEASE PROCEED AND SIGN. IT IS THE BEST THING TO DO FOR OUR COUNTRY THAT IS LAND-LINKED. IT IS A SOUND ECONOMIC MOVE. IT WILL CREATE A BIGGER MARKET FOR ZAMBIA. THIS SHOULD BE FOLLOWED BY PROMOTING MANUFACTURING INDUSTRIES TO PRODUCE GOODS FOR EXPORT TO OTHER COUNTRIES. INSTEAD OF ENGAGING IN USELESS PROJECTS SUCH THE NEW AIRPORT IN NDOLA AND THE FLY OVER BRIDGE IN LUSAKA, PROMOTE MANUFACTURING INDUSTRIES, AGRICULTURE AND TOURISM.
African countries need free trade with each other and the move towards a single African market is long overdue. Zambia’s hesitation to sign testifies of fear to stifle the local economy against an influx of products from other African countries. If we had various authentic products “Made in Zambia” ourselves, there would be absolutely no hesitation to sign up.
That is correct.
The problem with most of these African Union initiatives is that they are usually not well thought through. Zambia needs to examine this carefully
Am not against signing up but against signing without understanding every line of the agreement. We may assume the benefits if Zambia signed this thing up, but we need also to understand that signing up to agreements that have profit motive attached there of needs thorough understanding. Besides Zambia is not the president alone, but the people. We need not to make economical decision based on other countries decision, less be emotions. Any weapon that you don’t understand properly can cost you life even if its designed to work for your good.