The Government is aware of the challenges that the country may face after the ratification of the Agreement on the African Continental Free Trade Area, so it is cautious in seeking elements that can ensure that Mozambique is better positioned to obtain effective gains and draw maximum benefits from the integration in what may become the largest integrated world market with about 1.3 billion consumers.
The Minister of Mineral Resources and Energy, Max Tonela, who was speaking on behalf of the Minister of Industry and Trade, at the 3rd edition of the Mozambique – European Union Economic Round Table, under the theme “Free Trade Area of Africa: a landmark for the continent and for Mozambique”, pointed out as challenges the competitiveness of national industry, the need to improve the quality of domestic products, the development of institutional capacity, the legal framework for domestication and implementation of the Agreement, as well as market literacy among the business sector.
Mozambique is a signatory to the Agreement that creates the African Continental Free Trade Area, which aims to promote a single continental market for goods and services, as well as the free movement of business and investment people, and which is in the operationalization phase since January 1st of this year.
However, the country has not yet ratified this Agreement that constitutes an opportunity for the enlargement of exports of national products to the continent, free of customs duties, and for the promotion of industrial development, through the diversification and development of reference value chains with global impact.
According to Minister Max Tonela, the decision to ratify the African Continental Free Trade Area Agreement is premised on its harmonization with all stakeholders and comprehensive involvement of the Private Sector, considering the impact assessment and the existence of a national implementation strategy, processes that are underway with UNECA support and will be completed during the course of this year.
“It is the impact assessment and the implementation strategy that will underpin the tariff offer and the specific commitments of the service sectors to be liberalized by Mozambique, taking into account the sensitive sectors, in order to assert its position in this continental market and obtain the maximum benefits from this single continental market”, stressed Max Tonela.
