Page 15 - Msingi Afrika Magazine Issue 25
P. 15
Leadership
$29 trillion by 2050.
The concept of AfCFTA is to
increase trade within the 55
African states, to manufacture
and grow what is needed
on the continent, to export
processed goods, agricultural
and industrial, using African
resources and made by
African labour. This is very relative to imports from Asia. ever stronger Africa. African
obviously the catalyst needed countries trade with the rest of
to drive industrialization of all At the Durban launch President the world but we have limited
African economies and create Ramaphosa gave an excellent trade among ourselves.
the productive employment speech in which he said that the
needed to put the continent in days of Africa being the raw The reason for this is clear:
its rightful place on the world materials market for the global we are principally exporters
stage. The full implementation North were over. It is time for of raw materials, selling
of the AfCFTA will lead to the world to meet Made in rocks and black liquid to the
increased investment and Africa. world, instead of harnessing
productive capacity. It will lead our oil and the minerals to
to greater economic integration “Today, we are witness to a industrialise our continent. We
and greater unity. historic moment in Africa’s need to change this.
economic destiny. Today, we Over the last few years, our
Primary to the AfCFTA mark the start of preferential trade ministers have been
Agreement is the trade by South Africa under the finalising rules of origin of
harmonization of trading African Continental Free Trade what constitutes an African
standards which regulates Area. In a short while, we will product. They have done well
product quality. AfCFTA be witnessing the sending off of to finalise 92 percent of the
simplifies and reduces export/ the first shipment of products products that nations trade
import duties which enhances from South Africa to other with each other. I am happy to
ease of trade. AfCFTA ensures AfCFTA countries. see so many of Africa’s trade
a lower tariff regime. Over ministers here today, able to
time many of the tariffs will This shipment demonstrates celebrate the work to which
be removed for goods and that the African Continental they have contributed. We
services. The aim is to make Free Trade Area is a reality. need them to be even bolder in
Made in Africa products We are in the port city of further rules of origin.
available to the African market eThekwini taking forward the
at very competitive prices dream of an ever larger and The products that we trade
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