Zambia joins African Free Trade Area
By NATION REPORTER GOVERMENT has signed the declaratory message to be part of the African Free Trade Area aimed at liberalising both trade in goods and services.
Permanent secretary in the ministry of Commerce, Trade and Industry, Kayula Siame explained that the idea was to build on progress so far made within the regional economic communities recognized by the African Union (AU) as part of the 2063 agenda of establishing the ‘Africa we want’.
Ms Siame said the decision to establish the African continental Free Trade Area was taken during the eighteenth Assembly of Heads of State and Government in 2012 when the Heads of State and government decided to establish a Pan- Africa Continental Free Trade Area by 2017.
This decision was taken as part of Africa’s efforts towards fast-tracking the continent-wide free trade component of the African Economic Community (AEC) established by the Abuja Treaty of 1991.
The permanent secretary said in the first phase of the programme there will be liberalisation of both trade in goods and services adding that the project will extend to negotiations investment, competition policy and intellectual property in the second phase.
According to a press statement made available to the Daily Nation, Ms Siame said for the continent to embraces free trade, there was need to build productive alliances and the necessary capabilities for industry.
“Zambia needs to take advantage of emerging opportunities, while minimizing negative impact. The ministry, therefore, wishes to call upon various stakeholders to take keen interest in developments taking place, in the context of the African Continental Free Trade Area, especially after the launch,” said Ms Siame.
She said the onus was on participating countries to take advantage of emerging opportunities, while minimizing the cost of trade openness.
She noted that there is need to carefully assess where opportunities and challenges lie the process.
“The Ministry of commerce welcomes collaboration from various partners to create awareness and prepare the private sector and the common man as these developments unfold.
“The Ministry is rolling out a sensitization programme and ideas on how best we can reach out to various segments of society are welcome,” she said.