Sacu coordination critical for AfCFTA

The negotiation agendas of AfCFTA are still ongoing.

12 April 2021 | Economics

The coordination of the Southern Africa Customs Union (Sacu) member countries in the implementation of the African Continental Free Trade Area (AfCFTA) agreement is critical for both the facilitation of implementation and for the work that is ongoing.

The executive secretary of Sacu, Paulina Elago, during a webinar on Thursday gave the assurance that the union will continue to put measures in place for the effective implementation of the AfCFTA agreement, and will ensure that areas that are lagging behind are prioritised and fast-tracked in terms of implementation.

AfCFTA is a flagship project of the African Union under agenda 2063 which is the continent’s development strategy.

The agreement’s aim is to boost intra-African trade by creating an integrated market for goods and services, promoting cross-border movement of capital and persons, promoting industrialisation, creating jobs and improving the competitiveness of African industries on the global stage.

NEGOTIATIONS

In her overview of the agreement during the webinar, the executive director in the Trade Law Centre, Trudi Hartzenberg, said the AfCFTA can contribute to the process of building, diversifying and including resilience building for the region’s productive sectors through various channels.

She added that AfCFTA negotiation agendas, including negotiations on tariffs and some rules of origin as well as specific commitments for service, are still continuing.

“Effective implementations of the AfCFTA, looking at key functions like customs and border management in the context of the broader trade facilitation agenda, are key to the success of the AfCFTA,” she said.

As a result of the initiative, trade between countries that have ratified and whose rules of origin are in place commenced in January 2021, following decisions made by respective heads of state in December 2020.

As of 15 March 2021, 36 member states of the Southern African Development Commubity (SADC) have ratified the AfCFTA agreement.

Botswana is one of the SADC member states that has not yet ratified the AfCFTA while Angola, Comoros, and the Democratic Republic of Congo are not yet members of the free trade arrangements. - Nampa

Similar News

 

Trade surplus with China contracts

10 hours ago | Economics

Jo-Maré Duddy – China remained Namibia’s biggest export destination in March, but unlike a year ago, the destination clinched the top position because of re-exports...

Africa Briefs

10 hours ago | Economics

Zim inflation to fall to 55%Zimbabwe's central bank said it expects annual inflation to further decline and reach a low of 55% by July.The bank...

'Open Namibia-Angola border'

10 hours ago | Economics

The continued closure of the Namibia-Angola border due to measures put in place to combat Covid-19 obstructs the legal free movement of people and goods...

Home not for ‘those who want to hustle'

10 hours ago | Economics

Elizabeth Dilts Marshall - Working from home does not work for everyone, especially those who want "to hustle," JPMorgan Chase & Co's chief executive said...

More than N$10 bn in debt holidays

1 day - 05 May 2021 | Economics

Jo-Maré Duddy – Commercials banks last year granted clients severely impacted by the Covid-19 pandemic debt relief to the tune of N$10.3 billion in total.About...

Africa Briefs

1 day - 05 May 2021 | Economics

Zambia, Angola ink oil pipeline dealZambia and Angola have signed an agreement aimed at constructing a pipeline for the transportation of finished petroleum product between...

A decade of solar plants at Tsumkwe, Gam

3 days ago - 03 May 2021 | Economics

TSUMKWE – The 10-year-old Tsumkwe and Gam solar plants continue to provide reliable electricity supply to the settlements of nearly 6 000 people.The two solar...

CoW to install traffic lights in Katutura

3 days ago - 03 May 2021 | Economics

The City of Windhoek (CoW) has secured N$1.6 million to install traffic lights at three different intersections in Katutura, including the four-way at the Havana...

Consumer crippled by debt

6 days ago - 30 April 2021 | Economics

Jo-Maré Duddy – Out of every N$100 disposable income in 2020, consumers on average could call only N$10.90 their own as they owed N$89.10 in...

Ongwediva road upgrade faces delay

6 days ago - 30 April 2021 | Economics

ONGWEDIVA – The Ongwediva town council has terminated a tender awarded to Neu Olulya Trading to upgrade Church Street to bitumen standard, following non-performance on...

Latest News

Trade surplus with China contracts

10 hours ago | Economics

Jo-Maré Duddy – China remained Namibia’s biggest export destination in March, but unlike a year ago, the destination clinched the top position because of re-exports...

Govt ‘forced’ NTB into Kora...

10 hours ago | Justice

ELLANIE SMIT WINDHOEK The legal team of Kora All Africa Music Awards founder Ernst Adjovi says the Namibian Tourism Board (NTB)...

N$278m payment for Air Namibia...

10 hours ago | Transport

OGONE TLHAGE WINDHOEKGovernment has paid part of N$278 million reserved for ex-gratia payments to...

Africa Briefs

10 hours ago | Economics

Zim inflation to fall to 55%Zimbabwe's central bank said it expects annual inflation to further decline and reach a low of 55% by July.The bank...

Kora exposing political rot

10 hours ago | Opinion

The ongoing Kora trial is not just a civil matter between two parties contesting contractual interpretations and millions of dollars lost.Preliminary evidence points to a...

Pappa Chef winners announced

10 hours ago | Business

Yochanaan Coetzee - The exciting Channel 7 and Checkers Pappa Chef competition is in full swing, with ten excited winners each walking away with N$1...

'Open Namibia-Angola border'

10 hours ago | Economics

The continued closure of the Namibia-Angola border due to measures put in place to combat Covid-19 obstructs the legal free movement of people and goods...

No corruption at fisheries –...

10 hours ago | Ministries

OGONE TLHAGE WINDHOEKNew fisheries minister Derek Klazen says the ministry is not plagued with corruption, contrary to public opinion.He made the comment...

UN highlights midwife shortage

10 hours ago | Health

JEMIMA BEUKES WINDHOEKA recent United Nations (UN) report has raised alarm over a...

Load More