Zambia has submitted her initial offer in the framework of the on-going services negotiation of the African Continental Free Trade Area-AfCFTA.

During a technical meeting convened by the African Union on trade in services, Zambia Embassy Counselor Economic, Linda Mbangweta said “with regard to business services, tourism and travel related services, Zambia’s market was unbound as long as the companies were registered in Zambia and were compliant with the country’s employment and immigration acts.”

In a statement obtained by Money FM News, Mrs. Mbangweta said the offer Zambia has made to the AfCFTA excludes the Insurance sector as the country is still reviewing regulation in the area but that Zambia still reserves the right to amend, withdraw and make additional offers during the negotiation process.

The AFCFTA Negotiations on Trade in Services meeting was chaired by Zambia’s Ambassador and Permanent Representative to the African Union Emmanuel Mwamba.

The meeting was called in compliance with the instruction from the African Union Ministers of Trade meeting that was held on 14th December, 2019 in Accra, Ghana.

Zambia’s offer to the AfCFTA includes liberalization of commitments in business, Communication, transport, finance, tourism and travel related services.

The AfCFTA will be operationalized in July, 2020. An Extra ordinary Summit for Heads of States on the CFTA will be held in May, 2020 in South Africa to conclude outstanding matters on the largest market on the continent.