Tanzania: Dar commits to fully explore AFCFTA trade opportunities

Published 2021년 10월 14일

Tridge summary

Tanzania's Minister for Industry and Trade, Prof Kitila Mkumbo, has expressed the country's commitment to maximize the trade opportunities presented by the African Continental Free Trade Area (AfCFTA) agreement. This commitment aims to expand agricultural markets, benefiting smallholder farmers and enhancing employment opportunities. The AfCFTA is anticipated to provide access to a market of approximately 1.2 billion people, compared to 522 million in the East African Community (EAC) and Southern African Development Community (SADC). The minister also anticipates increased productivity, reduced commodity prices, and strengthened business partnerships and industries, especially for the Small, Medium Entrepreneurs Group (MSMEs). The AfCFTA, which has 38 out of 55 African Union member states on board, is expected to facilitate the finalization of outstanding issues within three months to achieve 100% work.

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Original content

TANZANIA is committed to use all trade opportunities arising from the African Continental Free Trade Area (AfCFTA) agreement including the acquisition of new markets for agricultural products. Access to markets will stimulate production, strengthen the value chain of agricultural products involving smallholder farmers of sunflower, cotton, cloves, spices, fruits and vegetables. This was stated recently by the Minister for Industry and Trade, Prof Kitila Mkumbo (pictured) when he attended the seventh meeting of the African Council of African Trade Ministers of the AfCFTA held in a traditional and hybrid network. Prof Mkumbo said it would increase employment opportunities for farmers and stakeholders involved in the value chain of agricultural products, access to a large market for goods and services with a population of approximately 1.2 billion people compared to the population of about 522 million people in East Africa Community (EAC) and the Southern African Development ...

Source: Dailynews