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MANUFACTURERS TOLD BRACE THEMSELVES FOR CFTA,

 

By Katwishi Bwalya- A Trade Expert has urged Zambian manufacturers and Small and Medium Enterprise -SMEs- to effectively position for increased exports following Zambia’s ratification of the Africa Continental Free Trade Area-CFTA.

Gilbert Nkamba notes that the CFTA provides an opportunity for Zambia and other African countries to create the largest free trade area with the potential to unite more than 1.2 billion people.

Mr. Nkamba says domestication will lead to improved business transactions devoid of prohibitive taxes while local manufacturers and SMEs will have greater market access for their products.

He was speaking in an interview with ZNBC News in Lusaka.

Zambia recently submitted the instruments of its ratification of CFTA agreement to the African Union Commission.

With Zambia’s ratification, only 18 member states are left to comply with the requirement.

It provides the opportunity for Africa to create the world’s largest free trade area in a 2.5 trillion-dollar economic bloc.

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