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Ratification of AfCFTA

In another move to act on the vow to improve the business environment in Tanzania and attract investors, Tanzania has ratified the African Continental Free Trade Area (AfCFTA) agreement. With this removal of trade barriers and facilitation of free movement of labour, the country can finally make good use of regional blocs and enjoy access to  a robust market – Africa.

The market integration is, however, not without its challenges. Issues including market fragmentation and the varying sizes of national economies, which may pose some challenges on the implementation of free trade across Africa. Nonetheless, the opportunities for increased trade and development are worthy of applause. President Samia has reminded us that ‘no man is an island’,  and Tanzania has certainly been making efforts to integrate within the region and globally.   The ratification of the AfCFTA is yet another important step towards expanding local industry and trade. And on that note, we look forward to engaging with the Industry and Trade minister, Hon. Kitila Mkumbo, at our upcoming members’ meeting this month.