Updated on : 22-10-2019
OPPORTUNITIES FOR BOTSWANA UNDER THE AFRICAN CONTINENTAL FREE TRADE AREA (AfCFTA
The African Continental Free Trade Area (AfCFTA) comprises fifty-five (55) countries with a combined population and Gross Domestic Product (GDP) of about 1.6 billion people and more than US $3.4 trillion, respectively. The AfCFTA creates a single market for goods and services, with free movement of business persons and investments as well as infrastructure development.
This large market means a lot to Botswana which has a population of just over 2 million. Given the limitation in the domestic market, This means therefore that Botswana needs to have access to other markets, especially the African market to industrialise and increase its exports base. The AfCFTA Agreement is an important initiative in accelerating intra-African trade. Through this arrangement, tariffs on goods traded among African countries will be scrapped or reduced, and new opportunities for exports as well as create an opportunity for regional value chains.
The architecture comprises the Agreement Establishing the AfCFTA, the Protocol on Trade in Goods, the Protocol on Trade in Services and the Protocol on Rules and Procedures for Settlement of Disputes. The Agreement has a number of Annexes on specialised areas that include the following:
Botswana signed the AfCFTA in February 2019. The AfCFTA creates opportunities for Batswana to to benefit from inter-regional trade within the African continent, and greatly contribute to the growth and diversification of our the country’s economy.
Download: Compiled Annexes to the CFTA Agreement
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