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ESWATINI VALIDATES AFCFTA IMPLEMENTATION STRATEGY

By Ministry of Commerce Industry and Trade | 2023-05-10

Eswatini has successfully validated the Draft AFCFTA National Strategy and Implementation Plan a document envisaged to provide a guide on increasing Eswatini’s participation in intra-continental trade.

The validation exercise of the African Continental Free Trade Area (AfCFTA) included a presentation to Cabinet Ministers, Parliamentarians Sensitisation Workshop and the stakeholder meeting where all stakeholders were given a chance to make their final inputs to the strategy.

The ministry of commerce, industry and trade is collaborating with the United Nations Economic Commission for Africa (ECA) to develop the strategy where the United Nations through ECA is providing technical as well as financial support for the success of the strategy document and implementation plan.

Speaking during a presentation to Cabinet, the Minister of Commerce, Industry and Trade, Manqoba Khumalo emphasised on the benefits of the implementation of the AfCFTA Agreement and that the Strategy will speed-up the process where Eswatini products would have access to all the AU member states market.

Cabinet ministers raised important issues where Eswatini needed to improve to reap the benefits that come with the agreement.

Minister Khumalo emphasised Eswatini’s need to develop a practical and effective strategy and action plan for the private sector, including MSMEs, “to be better positioned to take advantage of the available market access opportunities presented by the AfCFTA.”

The minister added that the AfCFTA agreement opened up new market access opportunities for Eswatini to expand her intra-African trade beyond the traditional markets, such as SACU, SADC, COMESA and the EU. Accessing the wider African market to export its goods and services on duty free market access will bring about more revenues for our country’s development.

He noted that for Eswatini, one of the objectives of the national strategy was to leverage deeper integration within the framework of the AfCFTA to facilitate an increase of Eswatini’s trade and investment within the African continent.

“It is also to support structural transformation and foster economic growth and sustainable development, as well as create employment opportunities for all emaSwati, particularly women and the youth, including people with disabilities with the ultimate aim of reducing poverty in the country,” he added.

The Director Economic Commission of Africa, Subregional Office for Southern Africa, Eunice Kamwendo said, “The AfCFTA is also expected to reduce endemic poverty, inequality and unemployment in the region as marginalized groups, including women, youth, rural populations and MSMEs through inclusive and diversified trade opportunities”.

Kamwendo further stated that “The AfCFTA would aid Eswatini in reducing huge import bills and help to ameliorate the fiscal crisis, supply chain issues as experienced through the COVID-19 pandemic and still course correcting today and food insecurities heightened by disasters.”

The United Nations Resident Coordinator in the Kingdom of Eswatini, George Wachira said “The AfCFTA presents a unique opportunity for Eswatini to enhance trade and investment, create jobs and spur economic growth.”

Wachira added that the UN Family in Eswatini fully supported Eswatini's efforts to successfully implement the AfCFTA and were ready to share/listen to insights on how best they can work together to maximise its benefits.

“The National AfCFTA Implementation Strategy is a critical tool for Eswatini's efforts to implement the AfCFTA. The strategy aligns with Eswatini's national development agenda and the AfCFTA framework, which emphasises the need to create an enabling environment for trade, enhance productivity and promote regional integration,” said

Giving the vote of thanks during the Parliamentarians Sensitisation Workshop, Deputy Senate President, Ndumiso Mdluli said: "It is important to focus on the already established trading businesses as an easy or quick win, but it is also important to also focus on the sectors or groups that are responsible for keeping our economy growing (the MSMEs) which primarily translates to a focus on women and the youth."

By signing and ratifying the AfCFTA Agreement, Eswatini has unlocked access to an extended and massive market which comprises the 55 Members of the AU, with a total population of 1.3 billion people and a combined Gross Domestic Product (GDP) of more than US$3 4 trillion for both goods and services produced in the country.

Participants to the workshop, supported by the Global Affairs Canada (GAC), were drawn from parliamentarians, senior policymakers from the economic cluster ministries and other stakeholders from the public and private sectors and civil society to validate identified critical constraints and opportunities for growth and recommended actions through an action-oriented policy and investment programme for enhanced regional and intercontinental trade.

For more information contact
The International Trade Department
Ministry of Commerce, Industry and Trade
Gwamile Street, between DPM’s Office and Eswatini Bank
Phone: 240401808/9
www.itdswaziland.org
https://eswatinitradeportal.gov.sz/

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