Five-day AfCFTA workshop underway
Trade Agreement
The industrialisation and trade ministry, in collaboration with the United Nations Development Programme (UNDP) for Namibia and the Namibia Trade Forum (NTF), is hosting a five-day capacity-building workshop this week in Swakopmund. The workshop is aimed at National Implementation Committee (NIC) members and the private sector, focusing on the African Continental Free Trade Agreement (AfCFTA).
Speaking at the official opening on Tuesday, Million Habte, the coordinator of the AfCFTA NIC, gave a number of recommendations that can enhance Namibia’s ability to capitalise on the trade agreement.
“The mining sector remains vital for Namibia’s economy, offering opportunities for value addition, export growth and job creation through the development of manufacturing. Namibia’s reliance on imports, including essential goods and machinery, highlights the need to grow local production and manufacturing capabilities,” Habte said.
He added that by effectively implementing the AfCFTA, Namibia can strengthen and diversify its trade relations with other African regions, leveraging its favourable geographic and economic position.
“Namibian companies must look beyond their borders and neighbours to fully benefit from the vast African market. Collaboration through joint ventures and increased investments in manufacturing and distribution will be essential for success. Both the private and public sectors must work together to ensure the effective implementation of the AfCFTA. Strong support is needed at every level of the economy, which is why the effective functioning of the national implementation committee is vital.”
Regional benefits
Habte said it is essential to establish and enhance partnerships at the national, regional and continental levels to ensure the AfCFTA’s long-term success.
As of September 2023, the agreement has 54 signatories; 47 countries have ratified the agreement, accounting for 85% of the 55 African Union member states, of which Namibia is one.
Sikongo Haihambo, the executive director at the trade ministry, said the National Implementation Committee met on Monday.
“The NIC members had fruitful deliberations, where topics such as the update on the Namibia NIC and the national implementation strategy, an overview of the AfCFTA status, the objectives of the NICs, and a presentation by Nigeria on their experience in operationalising the NICs were thoroughly discussed and deliberated on.”
Unlock potential
He encouraged the attendees to fully seize the opportunity. “As a continent, we are faced with many challenges, such as non-tariff barriers, which continue to impede trade. Despite the agreement already being implemented, intra-African trade still remains minimal. Therefore, this workshop provides a valuable opportunity to tackle these challenges and propose effective solutions.”
The purpose of this workshop is to equip both NIC members and the private sector with essential knowledge, understanding and insights for the successful implementation of the AfCFTA agreement and to unlock trade potential across Africa.
The AfCFTA comprises the world’s largest free trade area by the number of countries, with more than 1.3 billion people and a combined gross domestic product (GDP) valued at more than US$3.4 trillion. It constitutes a significant milestone toward the realisation of the African Union’s Agenda 2063 for the socio-economic transformation of the continent.
Speaking at the official opening on Tuesday, Million Habte, the coordinator of the AfCFTA NIC, gave a number of recommendations that can enhance Namibia’s ability to capitalise on the trade agreement.
“The mining sector remains vital for Namibia’s economy, offering opportunities for value addition, export growth and job creation through the development of manufacturing. Namibia’s reliance on imports, including essential goods and machinery, highlights the need to grow local production and manufacturing capabilities,” Habte said.
He added that by effectively implementing the AfCFTA, Namibia can strengthen and diversify its trade relations with other African regions, leveraging its favourable geographic and economic position.
“Namibian companies must look beyond their borders and neighbours to fully benefit from the vast African market. Collaboration through joint ventures and increased investments in manufacturing and distribution will be essential for success. Both the private and public sectors must work together to ensure the effective implementation of the AfCFTA. Strong support is needed at every level of the economy, which is why the effective functioning of the national implementation committee is vital.”
Regional benefits
Habte said it is essential to establish and enhance partnerships at the national, regional and continental levels to ensure the AfCFTA’s long-term success.
As of September 2023, the agreement has 54 signatories; 47 countries have ratified the agreement, accounting for 85% of the 55 African Union member states, of which Namibia is one.
Sikongo Haihambo, the executive director at the trade ministry, said the National Implementation Committee met on Monday.
“The NIC members had fruitful deliberations, where topics such as the update on the Namibia NIC and the national implementation strategy, an overview of the AfCFTA status, the objectives of the NICs, and a presentation by Nigeria on their experience in operationalising the NICs were thoroughly discussed and deliberated on.”
Unlock potential
He encouraged the attendees to fully seize the opportunity. “As a continent, we are faced with many challenges, such as non-tariff barriers, which continue to impede trade. Despite the agreement already being implemented, intra-African trade still remains minimal. Therefore, this workshop provides a valuable opportunity to tackle these challenges and propose effective solutions.”
The purpose of this workshop is to equip both NIC members and the private sector with essential knowledge, understanding and insights for the successful implementation of the AfCFTA agreement and to unlock trade potential across Africa.
The AfCFTA comprises the world’s largest free trade area by the number of countries, with more than 1.3 billion people and a combined gross domestic product (GDP) valued at more than US$3.4 trillion. It constitutes a significant milestone toward the realisation of the African Union’s Agenda 2063 for the socio-economic transformation of the continent.
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