The Deputy Principal Secretary in the Ministry of Trade and Industry, Mrs. Tšireletso Mojela says the African Continental Free Trade Agreement (AfCFTA) aims to boost Intra-African trade by creating a single continental market for goods and services with free movement of business persons and investments.

Mrs. Mojela said this when officially opening on behalf of the Principal Secretary, the sensitization workshop for Youth and Private Sector on the African Continental Free Trade Agreement held in Maseru on Thursday.

She said the benefits for the private sector, particularly the micro, small and medium-sized enterprises (MSMEs) as well as women and youth are evident.

She said the agreement enables MSMEs to have greater access to new markets that will facilitate the expansion of their customer base and create new products and services thereby making investment viable.

Mrs. Mojela expressed hope that this workshop will bring the required clarity both on the content of the agreement and the way forward to ensure timely preparations for private sector participation in trade under this agreement, saying this will result in the optimal utilisation of the market access opportunities under AfCFTA.

Also Speaking, the Chief Trade Promotion Officer, Ms. Angela Rapotso said the objectives of the agreement are to ensure that there are transparent, clear, predictable criteria for determining eligibility for preferential treatment in the AfCFTA.

She noted that the opportunities of the agreement are enhanced market access, access to inputs as well as regional value chains.

Ms. Rapotso said the principles of the agreement consider the use of dispute prevention and alternative use of dispute resolution mechanisms.

 The African Continental Free Trade Area is a free trade area encompassing most of Africa. It was established in 2018 by the African Continental Free Trade Agreement and has 56 member states of AfCFTA.

By Staff Reporter: Maphoka Likotsi