08 Sep 2019

 President Dr Mokgweetsi Masisi has implored African leaders to show commitment in removing barriers to implementation of the African Continental Free Trade Area Agreement (AfCTA).

He was participating in a panel discussion at the World Economic Forum (WEF) on Africa last week.

President Masisi said following signing of a protocol document, it was important for regional economic communities (RECS) to build sufficient capacity for smooth implementation of AfCTA.

“We need to ensure that we start at the centre of those five RECS to ensure that we build sufficient capacity within them to apply and implement the requirement necessary to free trade,” he said.

He said it was important to put enablers to facilitate free trade area within neighbourhoods by financing critical infrastructure to enable such trade citing that airports, regulations of air spaces, habours, ports and railway lines should be in a functioning position.

“As leaders we also need to commit with urgency to rapidly reorient, put in an agile position those of our public servants and those in the private sector whose work would include facilitation of trade,” he said

With regards to making countries attractive to potential investors, he said, Botswana had put in place some reforms aimed at opening up economy and ensuring there was confidence built to it through transparent systems, strengthening rule of law and ensuring quick settlements to disputes, efficient, fair settlements  to disputes.

“It also involves opening up opportunities and space for private sector to participate, but because we are a developing country, we need to roll out connectivity, so that we have the backbone- we want to connect every house hold and every business,” he said.

He stated that training for 500 young people in the ICT sector would be accelerated to make them more valuable to potential investors and employers.

South Africa president, Mr Cyril Ramaphosa, said AfCTA would be a greatest opportunity for the economies of the continent to generate profit through trade, strengthen industrialisation and create employment for youth.

Furthermore, he said AfTCA would help countries to diversify their economies and move away from complex type of economies that relied heavily on natural resources and unleash further areas of growth through industrialisation and manufacturing.

He concurred with President Masisi that strengthening of institutions was important in getting rid of corruption to make countries attractive to investors and facilitate ease of doing business.

“Companies must know that they can come to any country, no bureaucratic process, there is rule of law, improved infrastructure development and smart partnerships and we should address infrastructure gaps,” he said.

Zimbabwe president, Mr Emmerson Mnangagwa said education was critical and required political will in order to achieve what Africa desired.

Ethiopia’s president, Ms Sahlework Zwede said the free trade area agreed upon at African Union level must be cascaded throughout all countries. ENDS