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The first Tanzanian received a certificate of origin recently to trade in the African Continental Free Trade Area (AfCFTA). The certificate was presented by the acting vice president of the Tanzania Chamber of Commerce, Industries, and Agriculture (TCCIA), Vicent Minja
The first Tanzanian received a certificate of origin recently to trade in the African Continental Free Trade Area (AfCFTA). The certificate was presented by the acting vice president of the Tanzania Chamber of Commerce, Industries, and Agriculture (TCCIA), Vicent Minja. The certificate will allow the businessman to get a reduction in customs duty from 35%to 12%.
The chamber has been educating traders about the benefits of exporting goods using certificates of origin under the African Continental Free Trade Area agreement.
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AfCFTA is the largest trading bloc in the world, having a membership of 54- member countries, of the total 55 countries in the continent. Eritrea is the only country, which is a part of the Horn of Africa, that refused to join the grouping. Together, the vast trade bloc has 1.3 billion people and a market size exceeding US$3.5 trillion annually. AfCFTA provides for dismantling tariff borders to pave the way for an integrated and contiguous market for the continent.
