2024-01-18 16:04:00
IN THE MORNING January 18, 2024 AT 5:04 p.m.
“This year our intention is to accelerate the implementation of the Zlecafe“, said Accept Me during a meeting held recently under the theme “TheAfrican economy of scale“, noting that “the first commercial exchanges between African countries have actually started with goods crossing borders, even if the volumes have not yet reached the targets set.
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Stressing that African countries have developed legal framework which made it possible to establish an effective single market, he mentioned the launch in 2023 of the Pan-African Payments and Settlements System (PAPSS)which aims to enable companies to overcome the problem of currency convertibility which slows down growth in Africa. He noted, in this sense, that trade between African countries now covers a wide range of sectors, ranging from processed agricultural products to manufacturesthrough the services.
“The lessons we have learned are that in reality, the private sector across the continent is ready to benefit from Zlecaf and that governments must act much more quickly to meet their needs,” he added . Likewise, Mr. Mene recalled that the Secretariat of the grouping selected seven countries to participate in the pilot test of the Guided Trade Initiative, which allowed them to access certain markets at preferential rates for several products .
“This year, efforts under this initiative will focus on the services sector, particularly the tourism and the banks“, he noted, pointing out that trade ministers will soon be called upon to conclude the protocol on digital commercewhich will further strengthen the competitiveness of theAfrican economy.
The Zlecaf is the largest free trade Area in the world, bringing together the countries ofAfrican Union and eight regional economic communities. This continental market has a population of 1.3 billion and a combined gross domestic product of $3.4 trillion.
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