All levels of government and business must proactively collaborate to realise opportunities presented by the African Continental Free Trade Area (AfCFTA) agreement, Director of Africa Bilateral Economic Trade at the Department of Trade, Industry and Competition (dtic), Calvin Phume, told delegates at a recent trade workshop.
Phume was speaking at the latest AfCFTA awareness workshop in Bloemfontein, which is part of a nationwide series aimed at equipping export-ready small, micro and medium enterprises (SMMEs), the private sector, and particularly women and youth-owned enterprises with knowledge on the benefits of the agreement.
The AfCFTA is a flagship project of the African Union’s (AU) Agenda 2063 that is focused on building an integrated market anchored on development integration. It seeks to enhance intra-African trade through the progressive elimination of tariffs and the introduction of rules to manage non-tariff barriers.
Phume said beyond policy transformation and reforms, the AfCFTA sought to ensure inclusivity of women and youth, including youth in rural areas, development of SMMEs, and overall industrialisation of the continent.
“Africa has the youngest population in the world, with 70% of the population under the age of 30. Women make significant contributions to cross-border trade in many African countries,” he said.
“However, women and young people face challenges such as underemployment, lack of opportunities and other structural and financial challenges that hinder their ability to trade.”
He said the AU Assembly had taken a cautious decision to include the Protocol on Women and Youth in Trade in the agreement.
AfCFTA encourages innovation, fosters competition and promotes the development of value chains, spurring industrialisation and job creation across sectors. It opens up vast markets of over 1.3 billion people and a combined GDP of over $3.4 trillion on the continent. SAnews.gov.za
