…to expand her intra-African trade beyond the traditional markets
BY DELISA THWALA
MBABANE – The African Continental Free Trade Area (AfCFTA) Implementation Strategy and Action Plan will benefit Eswatini immensely.
The AfCFTA Agreement opens up new market access opportunities for Eswatini to expand her intra-African trade beyond the traditional markets, such as SACU, SADC, COMESA and the EU.
Accessing the wider African market to export its goods and services on duty free market access will bring about more revenues for our country’s development.
Minister of Commerce Industry and Trade Manqoba said the AfCFTA will also support structural transformation and foster economic growth and sustainable development, as well as create employment opportunities for all emaSwati, particularly women and the youth, including people with disabilities with the ultimate aim of reducing poverty in the country.
“The AfCFTA is also expected to reduce endemic poverty, inequality and unemployment in the region as marginalised groups, including women, youth, rural populations and MSMEs through inclusive and diversified trade opportunities,” he said.
Khumalo said the AfCFTA would aid Eswatini in reducing huge import bills and help to ameliorate the fiscal crisis; supply chain issues as experienced through the COVID-19 pandemic and still course correcting today; and food insecurities heightened by disasters.
Meanwhile, The United Nations Resident Coordinator in the Kingdom of Eswatini, George Wachira said “The AfCFTA presents a unique opportunity for Eswatini to enhance trade and investment, create jobs, and spur economic growth.”
Wachira added that the UN Family in Eswatini fully supports Eswatini’s efforts to successfully implement the AfCFTA and are ready to share/listen to insights on how best they can work together to maximise its benefits.
“The National AfCFTA Implementation Strategy is a critical tool for Eswatini’s efforts to implement the AfCFTA. The strategy aligns with Eswatini’s national development agenda and the AfCFTA framework, which emphasises the need to create an enabling environment for trade, enhance productivity, and promote regional integration,” said Wachira.
Worth Noting is that by signing and ratifying the AfCFTA Agreement, Eswatini has unlocked access to an extended and massive market which comprises the 55 Members of the AU, with a total population of 1.3 billion people and a combined Gross Domestic Product (GDP) of more than US$3,4 trillion for both goods and services produced in the country.
