Monday, January 29, 2024
President Cyril Ramaphosa will on Wednesday officiate the launch of South Africa’s first shipment and preferential trading under the African Continental Free Trade Area (AfCFTA).
The launch ceremony will take place at the Port of Durban and occurs on the margins of the 13th AfCFTA Council of Ministers meeting to be held at the Inkosi Albert Luthuli International Convention Centre from 30 – 31 January 2024.
South Africa is the first among the four Southern African Customs Union (SACU) countries to practically realise the AfCFTA agreement.
The 37th African Union Ordinary Session of the Assembly of Heads of State and Government will, at its annual convention next month, take stock of the progress made thus far in the implementation of the AfCFTA.
The successful implementation of the AfCFTA is expected to lead to diversification of exports, increased productive capacity, acceleration of growth, increased investment, increased employment opportunities and incomes and most importantly, broaden economic inclusion both in South Africa and the rest of the continent.
It provides South African exporters with new market access opportunities to key markets in the African continent and can unlock growth.
President Ramaphosa will be joined by the Minister of Trade, Industry and Competition, Ebrahim Patel; KwaZulu-Natal Premier Nomusa Dube-Ncube and AfCFTA Secretary General Wamkele Mene. Other dignitaries will include the AfCFTA Council of Ministers, who will witness the first shipment of Proudly South African products exported to the continent.
The Department of Trade, Industry and Competition said the launch ceremony will be a historic step and an instrumental tool in generating meaningful trade on the African continent through the shipment of made-in-South Africa products.
“The main message being sent to Africa and the rest of the world through this event is to illustrate that companies can trade under the AfCFTA procedures to expand their markets within a legally binding framework,” the department said.
