South African Trade Minister Ebrahim Patel has told his country’s business that legal and administrative processes for preferential trade under the African Continental Free Trade Area (AfCFTA) Agreement were now in place for the operations that kicked off on Friday.
According to Patel, the country’s manufacturers and farmers should gear up for the new trade and export opportunities following the opening of the AfCFTA – a multi-trillion-dollar market of 1.3 billion people that became operational on 1 January 2021.
The minister said trade, especially with other African nations, was a crucial job creator for a continent whose majority youth populations are in dire need of employment.
Some 33 of the 55 African Union member states have signed the accord – including Kenya, Egypt, Ethiopia and Nigeria, Patel said.
Outgoing AU chairperson, President Cyril Ramaphosa, called on countries to prioritise silencing the guns, saying the AfCFTA would not succeed amid conflicts.
He called on AU member states to prioritise the inclusion of women and the youth within the AfCFTA.
“I appeal to all member states to spare no effort in creating a conducive environment for our youth and women to benefit in the opportunities presented by the AfCFTA.
“Indeed, the focus of our trade agreement should be directed to a larger extent on the development and sustaining small and medium enterprises, and not only on well-established big companies,” Ramaphosa said.
NM/jn/APA