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The announcement was made by the International Minister of Industry and Commerce, Silvino Moreno. He said that entry was also an opportunity to increase investment with an impact on the trade balance, in line with the Government’s Five-Year Programme.
Mozambique will join the African Continental Free Trade Area (AfCFTA) in January next year, availing of the business opportunities that this platform offers member countries.
The announcement was made by the International Minister of Industry and Commerce, Silvino Moreno. He said that entry was also an opportunity to increase investment with an impact on the trade balance, in line with the Government’s Five-Year Programme.
Silvino Moreno said that AfCFTA complements other projects that mutually reinforce support for trade and investment, especially given that the continental free trade market projects an increase in intra-African trade from minus 12% in 2013 to over 50% in 2045. It also aims to increase Africa’s share of global trade from two to 12 percent. The measure will also see Mozambique join the AfCFTA Guided Trade Initiative, aiming to create opportunities in Africa, through economic operators from countries that have already submitted their tariff offers.
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The African Continental Free Trade Area (AfCFTA) agreement creates the largest free trade area in the world measured by the number of countries participating. The AfCTA pact connects 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at USD 3.4 trillion.
