Swazi Observer

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ABOUT 10 PER CENT OF AFRICAN TRADE IS WITH AFRICA

By Qondile Ntiwane | 2019-04-21

Historically, Africa does not trade among itself and as a continent, only about 10 per cent of trade is with Africa.

This was revealed by Business Eswatini (BE) President Andrew le Roux, who said this was an issue that needs to be addressed.

“This is truly shocking as we continue to export our jobs, skills development and margins. Only to import it back at higher prices. It should not, and cannot, be easier to trade with Sweden through South Africa, than directly with Zimbabwe, or Zambia or Uganda. But this is what is happening every day,” he said.

He stated that in a digital economy, traditional borders were no longer what they used to be and the rise of platform and regionalised marketplaces was also changing the way people work and trade.

“Individuals and firms now need only a broadband connection to trade goods and services on online platforms. This ‘scale without mass’ and the ‘trade without borders’ brings very real economic opportunity. It opens doors to hundreds of millions of potential customers, and billions of dollars in potential trade.”

He then expressed gratitude to the PM-led Cabinet for grabbing the initiative to bid to host the secretariat for the African Continental Free Trade Area.

“It is no secret that the private sector is both excited and energised with the appointment of this cabinet: expectations are high and timelines are short. Both the direct and indirect benefits to our economy are significant, and the marketing and visibility value is priceless. Well done, Your Excellency. We are truly praying for your success, because your success is our success. “We all know that the world we live and trade in is changing faster than ever. It is incumbent upon us as political and business leaders to not only lead but to also anticipate these changes and present and prepare relevant, innovative and competitive solutions. And this trade area opens real opportunities,” he said..

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