Eswatini’s AfCFTA implementation strategy unveiled
EZULWINI – The National AfCFTA implementation strategy provides a roadmap for Eswatini to maximise its benefits under the AfCFTA, targeting an annual regional export growth of at least 10 per cent.
The long awaited African Continental Free Trade Area (AfCFTA) implementation strategy for Eswatini (2024 – 2028) was launched yesterday at the Happy Valley Hotel.
Eswatini is forging towards becoming a well-diversified economy and is on course to diversifying its manufacturing base, which accounts for 37 per cent of gross domestic product (GDP) – the highest in the southern African region.
Thus, Eswatini’s AfCFTA implementation strategy builds on existing efforts and propels the small landlocked country towards increasing its local production base and export orientation.
Strategy
The launch of Eswatini’s strategy could not have come at a more opportune time, when many African countries are striving to break away from being highly commodity dependent economies, whether in agriculture, fisheries, minerals and metals.
Acting Chief, Sub-regional Initiatives Section Economic Commission of Africa, Sub-regional Office for Southern Africa Dr Mzwanele Mfunwa said the launch accentuated Eswatini’s commitment to leverage the AfCFTA and harness its full potential.
He stated that the AfCFTA was not merely about trade – but was a powerful engine for economic growth and structural transformation; increasing productive capacities; poverty reduction and job creation among other socio-economic benefits, with rising incomes for marginalised groups including, women, youth, persons with disabilities, rural populations and MSMEs.
The Kingdom of Eswatini, as a member of the African Union (AU), signed the agreement establishing the AfCFTA in March 2018 during the Summit of Heads of State and Governments, held in Kigali, Rwanda.