The Ministry of Commerce trade and industry says Zambia will sign the framework agreement on the Continental Free trade area (ACFTA).
Minister of commerce Trade and Industry Christopher Yaluma says this will enable the country to participate in formulating other protocols that are going to take place in arriving at the desired way forward for the ACFTA.
Mr. Yaluma was responding to a question by Money FM News at a media briefing in Lusaka.
About forty 9 countries have so far signed the framework agreement , Zambia is among the 5 who haven’t signed that
Five countries signed the Agreement during the 31st Ordinary Session of the African Union in Mauritania on 1 July 2018 namely South Africa, Sierra Leone, Lesotho, Burundi, and Namibia – bringing the total number of signatories to 49.
To date, nine (9) countries have deposited their instruments of AfCFTA ratification with the Chairperson of the African Union Commission including Ghana, Kenya, Rwanda, Niger, Chad, eSwatini (former Swaziland), Guniea, Uganda and Ivory Coast.
In addition, 8 countries namely South Africa, Sierra Leone, Senegal, Mali, Namibia, Congo, Togo and Mauritania – have received or indicated intention of parliamentary approval for ratification, bringing the total number of ratifications, deposited and pending, to 17.
Twenty two (22) ratifications are required for the ACFTA agreement to enter force.
Meanwhile Mr. Yaluma says the trader war between the US and China will affect trade volumes globally.
Speaking to the media in Lusaka, he says that Zambia exports to both the US and China and if the trader war is not resolved it will cause serious impacts on trader.
The Minister says the resolution to the trade war will help the entire world to facilitate trade in an amicable way.

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