Clear targets for African integration
Clear targets regarding the AfCFTA have been set because past experience showed that decisions taken by the AU weren’t implemented, the deputy prime minister says.
Jo-Maré Duddy – Following the launch of the operational phase of the African Continental Free Trade Area (AfCFTA) last month, potential investors no longer have to shy away from Namibia due to its small population and market.
“When you are investing in Namibia, remember you are investing in Africa,” the deputy prime minister and the minister of international relations and cooperation, Netumbo Nandi-Ndaitwah, on Wednesday said at the Economic Growth Summit.
The AfCFTA gives investors access to a continental market of 1.2 billion people and an African economy whose combined gross domestic product (GDP) in 2015 was about N$4.3 trillion, she said.
To operationalise the AfCFTA, several instruments are already in place, Nandi-Ndaitwah said. These include the agreed rules of origin, a Pan-African payment and settlement system, a continental online mechanism for monitoring, reporting and elimination of non-tariff barriers, as well as a web-based and model-based application for businesses.
The agreed AfFTA rules of origin, dashboard for the AU trade obversaries, AFSTA on-line negotiation portal, pan-african payment and settlement system, continental online mechanism for monitoring, reporting and elimination of non-tariff barriers, afcfta web-based and model-based application for businesses
The goal of the AfCFTA is for 90% of the tariff lines to be cut to zero within five years for developing countries and within 10 years for least-developed countries, she said. Ten percent of the tariff line will be excluded from trade liberalisation and 7% will be liberalised over a much longer period - over 10 years for developing countries and over 12 years for least-developing countries.
Deadlines
To ensure that the AfCFTA is implemented as planned, AU member states have responsibilities which they have to carry out, according to Nandi-Ndaitwah.
The 90% of the tariff-line offers have to be submitted to the Africa Union (AU) by January 2020. As part of the Southern African Customs Union (SACU) and the Southern African Development Community (SADC), Namibia will be part of a group submission, she said.
The negotiations of the tariff reduction for the 7% are to be concluded by January 2020 and negotiation results sent to the AU. Trading and tariff dismantling under the AfCFTA has to start in July 2020.
“All these are given targets,” Nandi-Ndaitwa said.
Clear targets have been set because past experience showed that decisions taken by the AU aren’t implemented, she said.
Attitude
Africa has everything needed to industrialise the continent, the purpose of Agenda 2063, Nandi-Ndaitwah said. To overcome challenges, however, attitudes will have to change.
“If we change our attitude to African industrialisation, we will be able to achieve and realise the importance of regional and continental integration. Namibia will be one of the beneficiaries of this - Namibian investors, the Namibian private sector, and Namibian young people.
“They must only ready, acquaint themselves and follow the development in our continent so that we benefit from it,” she said.
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“When you are investing in Namibia, remember you are investing in Africa,” the deputy prime minister and the minister of international relations and cooperation, Netumbo Nandi-Ndaitwah, on Wednesday said at the Economic Growth Summit.
The AfCFTA gives investors access to a continental market of 1.2 billion people and an African economy whose combined gross domestic product (GDP) in 2015 was about N$4.3 trillion, she said.
To operationalise the AfCFTA, several instruments are already in place, Nandi-Ndaitwah said. These include the agreed rules of origin, a Pan-African payment and settlement system, a continental online mechanism for monitoring, reporting and elimination of non-tariff barriers, as well as a web-based and model-based application for businesses.
The agreed AfFTA rules of origin, dashboard for the AU trade obversaries, AFSTA on-line negotiation portal, pan-african payment and settlement system, continental online mechanism for monitoring, reporting and elimination of non-tariff barriers, afcfta web-based and model-based application for businesses
The goal of the AfCFTA is for 90% of the tariff lines to be cut to zero within five years for developing countries and within 10 years for least-developed countries, she said. Ten percent of the tariff line will be excluded from trade liberalisation and 7% will be liberalised over a much longer period - over 10 years for developing countries and over 12 years for least-developing countries.
Deadlines
To ensure that the AfCFTA is implemented as planned, AU member states have responsibilities which they have to carry out, according to Nandi-Ndaitwah.
The 90% of the tariff-line offers have to be submitted to the Africa Union (AU) by January 2020. As part of the Southern African Customs Union (SACU) and the Southern African Development Community (SADC), Namibia will be part of a group submission, she said.
The negotiations of the tariff reduction for the 7% are to be concluded by January 2020 and negotiation results sent to the AU. Trading and tariff dismantling under the AfCFTA has to start in July 2020.
“All these are given targets,” Nandi-Ndaitwa said.
Clear targets have been set because past experience showed that decisions taken by the AU aren’t implemented, she said.
Attitude
Africa has everything needed to industrialise the continent, the purpose of Agenda 2063, Nandi-Ndaitwah said. To overcome challenges, however, attitudes will have to change.
“If we change our attitude to African industrialisation, we will be able to achieve and realise the importance of regional and continental integration. Namibia will be one of the beneficiaries of this - Namibian investors, the Namibian private sector, and Namibian young people.
“They must only ready, acquaint themselves and follow the development in our continent so that we benefit from it,” she said.
[email protected]
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