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Michael Tome and Malvern Nkomo
ZIMBABWE should reposition itself and accelerate the implementation of the African Continental Free Trade Area (AfCFTA) protocols in areas where the tariff phasedown has been agreed.
This was said by Foreign Affairs and International Trade Deputy Minister, Dr David Musabayana at the ‘Made In Zimbabwe for Africa’ seminar hosted by ZimTrade in Harare last week.
Dubbed “Positioning Zimbabwe for Export Success under the AfCFTA,” the convention sought to update stakeholders on progress the country has made in the implementation of the AfCFTA agreement.
It also endeavored to enlighten export-oriented entities and individuals on the requirements to export under the continental trade arrangement with particular emphasis on new export markets.
This comes after the African Union declared 2023 the Year of the AfCFTA.
AfCFTA is the largest free trade area in the world in terms of participating countries, covering a market of 1, 2 billion people and a combined Gross Domestic Product (GDP) of over US$3 trillion.
In terms of membership, the trade agreement brings together 54 African Union (AU) member states and eight AU recognised Regional Economic Communities (RECs).
The agreement aims to create a single market for goods and services in Africa by removing tariffs and other trade barriers to trade among African countries.
The agreement is expected to boost intra-African trade, promote economic integration and industrialisation, create jobs, and increase the continent’s bargaining power on the global stage.
In his remarks, Deputy Minister Musabayana said the free trade area (FTA) formed a critical basis on which Zimbabwean firms should craft formidable strategies to compete in the world’s largest FTA.
“AfCFTA is the African Union’s long-term development strategy that is bent on transforming the continent into a global powerhouse.
“This seminar, therefore, creates a marketplace of ideas, which seeks to bring into focus issues related to the most topical trade matter on the African continent and also globally, the AfCFTA,” said Deputy Minister Musabayana.
Speaking at the event ZimTrade chief executive officer Allan Majuru said the national trade development and promotion organisation was tirelessly working towards Zimbabwe’s growth and prosperity through the development of viable and sustainable exports.
He urged stakeholders to improve the quality of product offering to the regional counterparts to enhance the attractiveness of local offering.
“To enhance export competitiveness there is need for combined efforts with industry, producing goods and services of exceptional quality which will attract better value for both the African market and other export markets.
“Hence we hosted this seminar to provide a platform for engagement, updates as well as recommendations on what should be done to benefit from the Continental Free Trade Area,” said Mr Majuru.
According to Mr Majuru, Africa remains the primary market for Zimbabwe’s export produce with more than 50 percent of its produce going to the SADC region over the years.
Apart from mineral produce, Zimbabwe’s prime exports to the continent are tobacco, cotton, fruit, hides, equipment, coffee, timber, and sugar.
Zimbabwe’s exports to Africa were US$3,5 billion in 2021 being 59 percent of the total exports.
Exports to South Africa contributed a total of 48 percent of the country’s exports.
This reveals the need to diversify export markets within the region and utilise the benefit of the free trade area.
Online Reporter