Botswana announced Trading under Preferential Terms of the African Continental Free Trade Area (AfCFTA) Agreement in April of 2024

By Abdul Rahman Bangura-

Photo Credit: African Centre for a Green Economy

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The Ministry of Trade and Industry on announced. This circumstance emanated marshalling 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,” remarked Ndiyane Sekgopa, the spokesperson for the ministry.

She affirmed, AfCFTA will result in wider and increased market access for Botswana’s exports in the African Landmass. “The private sector will also access a wide range of inputs or raw materials from the continent at competitive prices,” she declared.

Sekgopa same said, the agreement also supports the growth of businesses owned by women and youth.

In the meantime, in preparation for trading under the AfCFTA agreement, Botswana has invited firms 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 beckoned on women and youth businesses that are ready to trade in the continent to register to trade under the agreement.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent