The African Continental Free Trade Area (AfCFTA), which has been implemented by the Department of Trade, Industry and Competition (DTIC), is a gateway to economic integration on the continent.
This significant milestone is aimed at establishing a unified African market, promoting trade, and propelling sustainable and inclusive growth across Africa.
Speaking at the AfCFTA awareness workshop at the Constitution Hill in Johannesburg recently, Calvin Phume, director of Africa bilateral economic relations at DTIC, said the initiative presents a distinctive opportunity for Africa to achieve economic emancipation, resulting in job creation, poverty alleviation, improved welfare, and sustainable development.
He said the AfCFTA represents a remarkable achievement, marking South Africa’s shared commitment into harnessing the potential of trade to drive growth, generate employment, and uplift the lives of millions of people across the continent.
Phume said: “The AfCFTA strives to ensure inclusivity, particularly for women, youth, and those residing in rural areas while focusing on the development of small- and medium-sized enterprises and overall industrialisation of Africa.
“As a flagship project of Agenda 2063, the AfCFTA aims to establish a unified African market for goods and services facilitated by the free movement of individuals, capital, and investments.
“This integration will further promote sustainable and inclusive socio-economic development, gender equality, industrialisation, agricultural advancement, food security, and structural transformation.”
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