'Long way to go for CFTA implementation'

• Published date: 01 April 2018
• Publication title: The Herald

President Mnangagwa signed the agreement to establish the African Continental Free Trade Area (AfCFTA) in Kigali, RwandaEnacy Mapakame Business Reporter. A lot still needs to be done before Zimbabwe can start accruing benefits from the Africa Continental Free Trade Area (AfCFTA) agreement, to which it is a signatory, a senior Government official has said.

Last week 44 African countries signed a framework seeking to establish the AfCFTA, the largest free trade agreement since the creation of the World Trade Organisation. The free trade area aims to create a single market for goods and services in Africa.

By 2030 the market size is expected to include 1,7 billion people with over $6,7 trillion of aggregate consumer and business spending. However, there seems to be some way to go before full implementation of the free trade area can be achieved.

Ministry of Industry, Commerce and Enterprise Development Permanent Secretary Abigail Shonhiwa said more discussions were still to. take place before total implementation of the AfCFTA.

"Zimbabwe has indicated that it is currently facing challenges in implementing its obligations under Sadc and would be hesitant to undertake extra liberalisation commitments under the continental free trade area which the country will find difficulty to implement," she said. According to Shonhiwa, the 15 percent tariff lines constitute the strategic sectors and products that Zimbabwe is protecting under the import management programme.

She said this during a Confederation of Zimbabwe Industries (CZI) meeting on the AfCFTA. The AfCFTA is expected to resolve the challenges of multiple and overlapping memberships and expedite the regional and continental integration process.

Although there were timelines provided from the African Union on procedures towards implementation of the agreement, Shonhiwa indicated there was still work to be done, including negotiations and ratification of the agreements before it is taken to Parliament as a full package. One of the...