Chronicle Editor
Nkosilathi Sibanda, Business Reporter
THE African Continental Free Trade Area (AfCFTA) presents a lucrative opportunity for Zimbabwe and the rest of Africa to integrate their businesses and boost the continent’s share of the global economy.
Indonesia’s Ambassador to Zimbabwe, Mr Dewa Sastrawan, said this during the second edition of the Diplomats Forum that was hosted alongside the recent Zimbabwe International Trade Fair (ZITF) that was held in Bulawayo.
In his speech, which was titled: “Economic Diplomacy Beyond Covid-19: Export and Investment Opportunity in Zimbabwe”, Amb Sastrawan said the historic continental trade deal, which came into force last year in January, has the potential to amplify Zimbabwe’s economic diplomacy while unlocking more opportunities for local businesses and the entire region.
Economic experts view the operationalisation of the AfCFTA as a bold statement towards deepening integration through improved infrastructure development, investment inflows and enhanced competition.
“The implementation of the AfCFTA makes Africa more integrated to the world economy due to a wider trade facilitation provided by this free trade agreement,” said Amb Sastrawan.
“Trade interactions such as the ZITF are pivotal in the advancement of the AfCFTA. The trade fair will definitely strengthen our effort to widen our economic diplomacy.
“The international community is working together to increase investment in Zimbabwe and together we are able to
increase export volumes, particularly through the implementation of the African Continental Free Trade Area.”
The Ambassador commended Government for the successful hosting of the ZITF, saying the trade showcase had the power to push the Government’s thrust of re-engagement.
“I believe we are participating here at the ZITF directly and indirectly. We are strengthening our contribution to the connection, engagement and re-engagement of Zimbabwe to the global economy,” he said.
Amb Sastrawan also said for the AfCTA to work well, the continent must bank on its youthful and economically able population.
“Considering that Africa by 2050 will have a one billion population with as many being of middle class I also believe that the diplomatic corps in Zimbabwe have to promote economic diplomacy that will contribute to the integration of AfCFTA with other regional economic integrations,” he said.
“The talk on the implementation of the AfCFTA comes hot on the heels of proclamation by Vice-President Constantino Chiwenga at the inaugural Connect Africa Symposium on Thursday morning at the ZITF.
“The Vice-President said there are numerous opportunities presented by the AfCFTA. As Africans we need to have a united economic front and speak with one political voice.”
The Ambassador said the AfCFTA will accelerate intra-African trade and advance Africa’s trade position in the global market by strengthening a common regional voice and policy space in global trade negotiations.
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