6 sectors to benefit from SADC Protocol on Trade
MBABANE – The Ministry of Commerce, Industry and Trade is in the processes of ensuring the effective implementation of the SADC Protocol on Trade in Eswatini.
This was mentioned by Minister of Commerce, Industry and Trade Manqoba Khumalo yesterday.
Khumalo said the Southern African Development Community (SADC) Protocol on Trade in Services came into force on January 13, 2022.
“Effectively the coming into force of the Protocol on Trade in Services, means that in the six negotiated priority sectors (construction, financial services, energy-related services, communication, transportation services and tourism),” he said.
Operate
The minster said service providers in the SADC region would be able to operate preferentially within the perimeters of the agreed schedule of specific commitments and the agreed regulatory frameworks.
He said the national process to ensure effective implementation of the protocol had commenced.
“The Kingdom of Eswatini has also assumed the chairmanship of SACU, during the course of the 2022 to 2023 financial year and a number of regional trade and industry meetings have been held,” he added.
Khumalo added that the Economic Recovery Strategy (ERS) was taking its foam.
“We are observing a private sector-led economy where by companies have engaged in expansionary and innovative programmes.
This is positively directly affecting the country’s capital gains in the construction level and also increasing the manufacturing value addition in our economy.”
“The ministry would like to commend the private sector companies that have since started to implement their ERS commitments for their collective efforts and also trusting in the country’s investment environment despite the COVID - 19 pandemic and the last year’s political unrest,” he said.
Enhance
The minister also mentioned that there was a need to vigorously implement policies that enhanced inclusive access to innovative financing technologies.
Leveraging high-knowledge intensive services to increase productivity and improve competitiveness in the private sector was key in achieving higher value-added diversification and industrialisation.
He said the meat value chain in
THE 6 BENEFICIARIES:
Construction
Financial services Energy-related services Communication Transportation Services Tourism
all categories (cattle, piggery, goats and sheep) had been on the increase. Forestry activities had also been on the increase mainly because of strong external demand, coupled with the continuous easing of restrictions regionally.
The ministry has managed to successfully conduct workshops on the Legal Metrology Bill No. 27/2020 and Measurement Unit and Measurement Standards Bill No. 14/2020.
They were both passed by the House of Assembly.
The Citizen’s Economic Empowerment Bill is pending tabling of portfolio committee in the House of Assembly.
The Liquor Bill is at portfolio committee in the House of Assembly.