By ZBC Reporter
ZIMBABWE will start implementing provisions of the African Continental Free Trade Area (AFCTA) after 15 years to give the local manufacturing industry an opportunity to recover.
Despite being a member of the newly established African Continental Free Trade Area, Zimbabwe will not immediately fall under the provisions and rules for the next fifteen years.
Speaking in Harare this Friday at a town hall meeting ahead of the World Economic Forum also known as the Davos Conference later this month, Foreign Affairs and International Trade Minister Retired Lieutenant General Dr. Sibusiso Moyo said implementing the rules right away might stifle the local industry’s recovery.
“The AFCFTA is going to allow the free movement of goods and people without any limitations and this will bring huge benefits to intra-African trade. However, Zimbabwe will be spared for the next fifteen years because if we do that right away, we become a dumping ground of goods because at the moment we are not producing enough,” said Dr. Moyo.
The creation of the vast trade block of 1,2 billion people with an estimated market value of 3,2 trillion United States dollars is regarded as one of the greatest achievements by the African Union over the last century and is regarded as the biggest highlight of Africa’s renaissance.