MBABANE:Mancoba Khumalo,the Minister of Commerce, Industry and Trade has urged local companies to utilize the opportunities that come with the African Continental Free Trade Area(AfCFTA).
Speaking during the International Customs Day celebration held at the Eswatini Revenue Service(ERS) Auditorium on Friday evening, the Commerce Minister said, the Ministry “engages extensively to identify opportunities that can boost trade for Eswatini businesses” and this, include negotiating market access by facilitating trade agreements.
“These agreements primarily benefit businesses because under the trading blocs to which the country is party, products from Eswatini are eligible for lower rates of Customs duties in the country of importation.There is already a wide market base for Eswatini companies as the country is party to trade agreements with the EU; in SADC, COMESA and the recently concluded continental Free Trade Area of the AfCFTA. The AfCFTA agreement alone brings together 55 countries with a combined population of about 1.3 billion people to whom our products can be sold.As a country, we should work on enhancing the production efficiencies in those industries where we already have strengths in, as by so doing we use our competitive advantage to penetrate the markets that are opened up from the finalised trade agreements”, he said.
INTERNATIONAL CUSTOMS DAY:Commerce Minister Mancoba Khumalo urges eSwatini businesses Continental Free Trade Area(AfCFTA) opportunities(ERS).