BOTSWANA’S Ministry of Trade and Industry has revealed plans for the commencement of trading under the African Continental Free Trade Area (AfCFTA) Agreement starting next month. This announcement follows the publication of Tariff Concessions and Rules of Origin for imports from participating AfCFTA members.
Ndiyane Sekgopa, the spokesperson for the ministry, highlighted the significance of this development, stating, ‘The commencement of trading under this landmark agreement provides the private sector with market access to the larger African market of 1.3 billion and will stimulate industrial development, investment, and job creation, which are in line with Botswana’s Vision 2036.’
Sekgopa emphasised that AfCFTA will pave the way for wider and increased market access for Botswana’s exports across the African continent. ‘The private sector will also access a wide range of inputs or raw materials from the continent at competitive prices,’ she added.
Furthermore, Sekgopa noted that the agreement is poised to support the growth of businesses owned by women and youth, aligning with efforts to foster inclusive economic development.
In anticipation of trading under the AfCFTA agreement, Botswana has extended invitations to companies interested in trading under the agreement to reach out to the Botswana Unified Revenue Services. They will be provided with assistance in fulfilling administrative requirements for trading.
Additionally, Botswana has urged women and youth businesses prepared to engage in continental trade to register under the agreement, further promoting inclusive economic participation.
With these measures in place, Botswana aims to leverage the opportunities presented by the AfCFTA Agreement to bolster its industrial sector, expand market reach, and foster inclusive economic growth.