… Minister Manqoba gives private sector tips on how to fully benefit from the African Continental Free Trade Area
BY PHUMELELE MKHONTA
MBABANE– The Eswatini private sector is already deliberating on how to maximize on the African Continental Free Trade Area (AfCFTA).
Giving insight and tips, the Minister of Commerce, Industry and Trade, Manqoba Khumalo, said the Eswatini private sector needed to increase its production capacity and consider value-addition and diversification if it wants to fully benefit from the AfCFTA.
He was speaking during a stakeholder validation workshop on the Draft AfCFTA Strategy and Implementation Plan.
“It is imperative for the Eswatini Business Community to be prepared to take advantage of the benefits brought forth by the Agreement. Preparations may include increasing production capacities, diversifying and also adding value to raw materials found in the country.
“We cannot over-emphasize the importance of the role of the private sector for changing the landscape of the African Continent. This calls for a continuous collaboration between the private sector and Government, including prioritizing private-public partnerships in order for us to increase our productive capacity and trade, thus fostering sustainable economic growth and development,” said Khumalo.
United Nations Resident Coordinator His Excellency George Wachira said the AfCFTA presented a unique opportunity for Eswatini to enhance trade and investment, create jobs, and spur economic growth.
“As the UN Family in Eswatini, we fully support Eswatini’s efforts to successfully implement the AfCFTA and to share/listen to insights on how we can work together to maximize its benefits.”
Director UNECA Sub Regional Office for Southern Africa Eunice Kamwendo said the importance of the AfCFTA for the Southern African region and Eswatini in particular cannot be emphasized enough especially in the context of industrialization and trade potential.
“Despite natural resource endowment and efforts to achieve export diversification, African countries remain predominantly dependent on exports of primary products in the agricultural, mining and extractive industries,” said Kamwendo.
