ZACCI, SACBTA upbeat of AfCFTA success

TRUCKS with copper at the Zambia-Botswana Kazungula Border Post. PICTURE: EDDIE MWANALEZA

WITH the African Continental Free Trade Area (AfCFTA) coming into effect on Friday, the Zambia Chamber of Commerce and Industry (ZACCI) says the gesture will reduce uncertainty on trading relations within the continent and foster domestic and foreign direct investment.
The AfCFTA will also help boost economic activity as countries emerge from coronavirus.
The AfCFTA treaty is a single continental market for goods and services and free movement of business persons and investments in a bid to expand intra-Africa trade across the regional economic communities and continent in general, enhance competitiveness and support economic transformation.
ZACCI president Chabuka Kawesha said the agreement provides a framework for trade liberalisation of goods and services, and that once implemented, it is expected to cover all 55 countries, with an estimated combined gross domestic product of US$2.5 trillion.
“The focus is on the potential effects on income, welfare, trade flows, income distribution, employment and CLICK TO READ MORE

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