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Africa

Africa Challenged to Grab AfCFTA Opportunities

todayFebruary 2, 2024 1

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DURBAN, South Africa: AFRICAN countries have been urged to take advantage of the African Continental Free Trade Area (AfCFTA) opportunities to stimulate business as it envisions reaching the continent’s agenda in 2063.

Minister of Industry and Trade, Dr Ashatu Kijaji made the remarks on Tuesday this week at the opening of the 13th AfCFTA Council of Ministers (COM) meeting in Durban, South Africa.

“As member states of this agreement we should make good use of the existing opportunities starting from the protocol for trade in goods, trade of services, investment, creative intellectual property rights, digital market, youth and women business and strong systems for resolving business disputes,” said Dr Kijaji who was the chair of the meeting.

Tanzania is the current chair of the AfCFTA. It will chair all meetings of the AfCFTA this year after being handed over the chairmanship during the 12th Council of Ministers meeting held in Dar es Salaam in December last year.

Dr Kijaji added that countries should cooperate to complete the investment protocol, digital business protocol, criteria of origin of the products as well as the important issues related to conflict resolution systems in doing business in the continent to address challenges like tax trade barriers and non-taxable.

Elaborating further, she said that the cooperation of the member states through AfCFTA will contribute significantly to resolving various challenges including road infrastructure, rail and air transport, insufficient energy as well as low production and communication.