GABORONE, March 20 (Xinhua) -- Authorities in Botswana have announced that trading under preferential terms of the African Continental Free Trade Area (AfCFTA) Agreement is to commence next month.
The Ministry of Trade and Industry on Wednesday announced that the development comes following the publication of the Tariff Concessions and Rules of Origin for imports from participating AfCFTA members.
"The commencement of trading under this landmark agreement provides the private sector with market access to the larger African market of 1.3 billion and will stimulate industrial development, investment and job creation which are in line with Botswana's Vision 2036," said Ndiyane Sekgopa, the spokesperson for the ministry.
She said AfCFTA will result in wider and increased market access for Botswana's exports in the African continent. "The private sector will also access a wide range of inputs or raw materials from the continent at competitive prices," she declared.
Sekgopa also said the agreement also supports the growth of businesses owned by women and youth.
Meanwhile, in preparation for trading under the AfCFTA agreement, Botswana has invited companies that wish to trade under the agreement to contact the Botswana Unified Revenue Services to be assisted in putting together administrative requirements for trading.
In addition, Botswana has called on women and youth businesses that are ready to trade in the continent to register to trade under the agreement. ■
