BY FIONA MOTSA
MBABANE– Today the Eswatini Investment Promotion Authority celebrated Africa Day under The African Union’s theme for 2023 ‘ Accelerating the implementation of the African Continental Free Trade Area’.
EIPA plays a central role in the facilitation of the AfCFTA (African Continental Free Trade Area) between African states and the growth of export trade for the local economy.
EIPA Head of Trade Bongani Ntshangase spoke about the importance of AfCFTA as an enabling platform for development in the area of trade, business growth and its significance in Eswatini.
“Intra- African Trade is a very important element not to be ignored especially when looking at trade in Eswatini, Africa and the rest of the world. Africa has emerged as an attractive market for export-oriented companies and manufacturers worldwide as demand consumer and capital goods in Africa has been growing steadily over the years,” said Ntshangase.
The Head of Trade further mentioned that Eswatini exported to Africa and the rest of the World an estimated worth of E32 billion.
“Eswatini exports to Africa and the rest of the world about E32 million and yet still fall short by far from the trillions of dollars in import products for Africa to take full advantage of the opportunities presented by AfCFTA.
“South Africa is our biggest trade partner with E22 billion of our local goods being sent to them each year. This relationship has been encouraged by our SACU membership with has benefitted us as it stimulates trade between Southern African countries,” he said.
Ntshangase further explained that they were also a member of COMESA, AfCFTA and that had opened up new and exciting opportunities for enhanced trade with existing trade partners as well as new opportunities in West, North and Central Africa which previously did not exist.
“Currently, Eswatini’s exports to the West, North and Central Africa regions. Exports include chemicals, sugar, pulp and wood products, textile and processed food, which shows our capability to create goods which are suitable for diverse markets,” said Ntshangase.
The Head of Trade further mentioned that it was important for Eswatini to create enabling platforms for trade and for the AfCFTA to benefit the local business community and the economy.
“In September 2023 the Eswatini International Trade Fair will make a return from 1 to 10 September. The event will be hosted at the Mavuso Trade and Exhibition Centre in Manzini. This event has consistently positioned Eswatini to African markets for decades and does so each year with more success as the event and its client base grows,” he said.
