AFCTA BY JESSIE TAYLOR
South Africa launches its trade under the African Continental Free Trade Agreement
The latest developments President Cyril Ramaphosa officiates South Africa first trade shipment under AfCFTA, 31 Jan
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outh Africa launched its trade under the African Continental Free Trade Agreement (AfCFTA) with the first shipment dispatched at the start of the year.
This follows the publication in the Government Gazette of the terms under which South Africa will participate in the new free trade agreement. South Africa is among 12 countries to have finalised their legal modalities that will enable the trade of thousands of product lines, ranging from food and beverages to steel products and equipment,
20 | Public Sector Leaders |May 2024
taxis, pharmaceutical and personal care products, chemical products and household goods such as fridges and televisions. South Africa is one of four of the five Southern African Customs Union (SACU) countries to practically realise the AfCFTA Agreement. CHARTING A NEW COURSE FOR AFRICA The AfCFTA is a trade agreement between all 55 member states of the African Union. The AfCFTA aims to significantly boost intraAfrica trade, particularly in value-
added production and trade across all services sectors of Africa’s economy. Officially launched in 2021, the agreement has significant potential to unlock economic activity on the continent. The AfCFTA aims to remove several barriers that the region has faced in trade and competitiveness and opens up opportunities for Africa to join regional and global value chains. The preferential trade agreement aims to increase international exports and intra-African trade, unlocking tremendous opportunities