ED challenges business | Business Times

PHILLIMON MHLANGA IN VICTORIA FALLS

 

President Emmerson Mnangagwa has challenged  business  to take advantage of the African Continental Free Trade Area (AfCFTA), capitalising on the enhanced ease of doing business brought about by by the Second Republic.

Officially opening the 10th CEO Africa Roundtable conference in the resort town of Victoria Falls, President Mnangagwa  emphasized the need for business executives and policy makers, drawn from various sectors, to step up and take action in order  to improve trade facilitation, shorten clearance times and  boost the effectiveness of cross-border operations along transport corridors.

 

 

 

Africa has a population of about 1,3bn  and a combined Gross Domestic Product of over US$3 trillion. This offers huge business opportunities for Zimbabwe and businesses should aggressively exploit the platform,

 

“In line with this year’s theme of modernisation, my Government is committed to significantly improve trade facilitation, reduce clearance times and enhance the efficiency of cross-border operations along transport corridors, leveraging on Zimbabwe’s strategic geographic location in the Southern African region,” said President Mnangagwa.

He added: “This is part of efforts to grow the volume of intra-Africa trade above the current low level of below 20 percent.”

“I, therefore, urge you all to take advantage of the African Continental Free Trade, a transformative force representing a vast market with a combined Gross Domestic Product of over US$3 trillion and a population surpassing 1,3 billion people.”

Enhanced continental integration, President Mnangagwa said, will lead to expanded trade volumes, increased investments, job creation and improved living standards of Africa’s citizens.

“As captains of industry, I call upon you all to take advantage of the opportunities, which have been availed by the current crop of progressive leaders on the continent through the African Continental Free Trade Area.

“This will enable the development of regional value chains, which will ultimately help African countries to diversify their economies and industrialise.

The onus is on the business sector to take advantage of competitive and comparative advantages of value chains such as the Cotton-to-Clothing value chain, leather, sugar, soya, pharmaceutical, lithium value chain as well as the bus and truck assembly value chain, among others,” he said.

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