AFCTA TO BOOST MALAWIS BUSINESS OPPORTUNITIES

The Ministry of Industry, Trade and Tourism in partnership with the Economic Commission for Africa (ECA) and the African Union Commission (AUC) are conducting an awareness workshops in cities of Lilongwe and Blantyre on 17 September 2019 and 19 September 2019 respectively.

Minister of Industry, Trade and Tourism, Salim Bagus said the AFCTA marks a new beginning for Africa economic transformation and Malawi’s economy stands to benefit with the creation of this single market.

“The AFCTA will facilitate increased business opportunities in Malawi in terms of unlimited market and economies of scale will result in reduced cost of doing business and improved efficiency and profitability of our industries SMES and Exports.

ECA regional director for southern Africa said the workshops are a major opportunity to raise awareness about the AFCTA amongst Private and Public stakeholders in Malawi

“The AFCTA provides the opportunity for Africa to create world’s largest free trade Area. It has the potential to unite 1.3billion people, within an S2.5trillion economic bloc.

Among objectives of AFCTA are: to create a continental market for goods and services, to grow intra African trade through better harmonization and coordination of trade liberalization across the continent and to enhance competitiveness at the industry.

The workshop is supported by European Union, ECA in partners with AUC, International Trade Central (ITC), United Nations Conference on Trade and Development (UNCTAD) and a selection of independent trade experts to ensure effective Implementation strategies.