• Zambia is yet to domesticate the agreement after ratifying it on 5th February 2021.
• None of the state parties of the AfCFTA are trading yet.
• AfCFTA aims at accelerating intra-African trade
Ministry of Commerce, Trade and Industry says it is working closely with Ministry of Finance to fast track domestication of the African Continental Free Trade Area (AfCFTA).
Responding to a press query sent by Money FM News, Ministry’s Public Relations Officer Musanda Kangwa stated none of the state parties of the African Continental Free Trade Area are trading yet, despite the platform being launched on 1st January 2021.
“Issues pertaining to outstanding rules of origin, finalization of customs documentation, and schedules of tariff offers by member states are yet to be concluded,” she said.
She added that Zambia is yet to domesticate the agreement after ratifying it on 5th February 2021.
African Continental Free Trade Area (AfCFTA) is a flagship project of Agenda 2063 of the African Union — Africa’s own development vision.
It was approved by the 18th ordinary Session of Assembly of Heads of State and Government, held in Addis Ababa, Ethiopia in January 2012 which adopted the decision to establish a Continental Free Trade Area.
The initiative’s immediate implementation would provide quick wins, impact on socio-economic development and enhance confidence and the commitment of Africans as the owners and drivers of Agenda 2063.
The AfCFTA aims at accelerating intra-African trade and boosting Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations.
As at 5 February 2021, 36 countries had deposited their instruments of ratification..