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Sunday, September 20, 2020

Zambia is working towards ratifying the Agreement establishing the African Continental Free Trade Area

Economy Zambia is working towards ratifying the Agreement establishing the African Continental Free...

Commerce,Trade and Industry Minister CHRISTOPHER YALUMA says Government is working towards ratifying the Agreement establishing the African Continental Free Trade Area -AfCTA by May 2020.

Mr. YALUMA says so far government has undertaken necessary consultations with the private sector, civil society, non state actors, and academia among others on the implementation of the Agreement.

He says government has emphasized on sensitization to stakeholders on the value and benefits that will come be because of Zambia’s participation in the AfCFTA.

Mr YALUMA was speaking at a Public seminar launching a Special Study report on the AfCFTA Implementation being held on the sidelines of the 33rd African Union Ordinary Seession Heads of State Summit.

Mr. YALUMA however further said Zambia was fully aware of the potential challenges that could arise in an event that the country was not sufficiently prepared for its participation.

The Minister said the AFCTA will mainly be driven by the private sector who must have products and services to compete in a larger market.

Mr YALUMA said Zambia was continuously working towards enhancing capacity of the private sector in order to ensure that their goods and services were export ready.

President EDGAR LUNGU signed the AfCTA on 10th February ,2019 in Addis Ababa.

The Agreement comes into effect on 1st July, 2020.

The AfCFTA once operational will bring together 55 African Countries with a combined population of more than one billion people and a combined gross Domestic product of more than $3.4 trillion .

This is according to a statement released to the media by First Secretary for Press and Tourism at the Zambian Embassy in Ethiopia INUTU MWANZA .

7 COMMENTS

  1. We have nothing to export to these other countries and blindly signing these agreements these PF boffons can hardly understand will only flood us more and more with SA’s finished products. Funny how the Economic Association of Zambia fails to weigh in now, Lubinda is a fool!

  2. What will Zambia take to the table? Obviously you won’t import tiles from China and go and sell them to Malawi because they’re also doing the same. Look at how South Africa has dominated the SADC? Local tutemba have closed in Kabwe’s Lukanga area because of the coming of SA chain stores. Yaluma whom have you consulted?

  3. A working progressive government. Looking at the comments above, it is easy to see that you can never satisfy the opposition in Zambia. To them any action by a ruling party has a negative impact. Even before they have analyzed the economic benefits, they rush to engage their rotten mouths before engaging brain. Are these the people you can trust with governance? Kz

  4. @ KZ

    The above bloggers are rightfully wondering what Zambia w to will sell in this market , seeing shops in Zambia are full of South African and Chinese products ?

    Maybe you call tell us what Zambia will export that it fails to stock in local shopping malls ??

  5. If Zambias economic giant Trade Kings can do it… so can the rest of us. Be positive. From rags to riches. We can do it!

  6. CHRISTOPHER YALUMA !!! How many times can you reshuffle a dog eared card in a deck? Some people are so useless but they keep being appointed maybe its because of their papers but this guy is a useless as they come. He has been to Mines Ministry where he was just a passenger now at commerce

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