Malawi signs the AfCFTA, organizes workshops in Blantyre, Lilongwe

In association with Economic Commission for Africa and the African Union Commission, the Ministry of Trade and Tourism is organizing an African Continental Free Trade Agreement (AfCFTA) Awareness Workshop in Malawi's Lilongwe and Blantyre on September 17 and September 19 respectively. Malawi has signed the AfCFTA but as part of its national consultations towards the AfCFTA ratification.

These workshops are intended to engage relevant stakeholders on AfCFTA issues to secure a consensus for Malawi to ratify the AfCFTA Agreement. Each workshop is expected to bring together about 150 participants from private sectors, civil society organizations, parliamentarians, academia, and government. Economic Commission for Africa (ECA) Sub Regional Office for South Africa took to Twitter to notify the users the Q&A session in which the experts revealed the added value of Malawi for being a part of AfCFTA.

Today at the #AfCFTA Awareness Workshop in #Lilongwe: #Malawian press #implementingAfCFTA questions the Ministry of Trade and Tourism, @ECA_OFFICIAL #SaidAdejumobi about the added value of Malawi being part of #AfCFTA pic.twitter.com/htl8cce5Yv

— ECA SRO-SA (@ECA_SRO_SA) September 17, 2019

"The AfCFTA marks a new dawn to Africa's economic transformation and Malawi's economy stands to benefit with the creation of this single market. It is a new hope for boosting intra-Africa trade across 55 African countries with a combined population of more than 1.2 billion people. The AfCFTA will facilitate increased business opportunities in Malawi in terms of unlimited market and economies of scale which will result in reduced cost of doing business and improved efficiency and profitability of our Industries, SMEs and Exporters," Salim Bagus, Minister of Industry, Trade and Tourism opined.

The AfCFTA Agreement entered into force on May 30, 2019 when the threshold of 22 countries ratified the agreement. The operational phase of the Agreement began on July 7, 2019 at the African Union's Extraordinary Summit, with a transition period up to July 1, 2020 when trading will start under the deal. Malawi signed the AfCFTA on March 21, 2018 in Rwanda's capital, Kigali.

"The workshops are a major opportunity to raise awareness about the AfCFTA amongst private and public stakeholders, in Malawi. Moreover, to focus on discussing the perceived challenges and making the best of opportunities that the ratification and implementation of the AfCFTA can bring," Said Adejumobi, ECA Regional Director for Southern Africa opined.

This workshop is part of a more comprehensive project intended at deepening Africa's trade integration through effective implementation of the AfCFTA. Financially supported by the European Union, ECA has been working with its partners including the African Union Commission (AUC), International Trade Centre (ITC), United Nations Conference on Trade and Development (UNCTAD) and a selection of independent trade experts to ensure effective AfCFTA implementation strategies.

The AfCFTA provides the opportunity for Africa to create the world's largest free trade area. It has the potential to unite 1.3 billion people, within a USD 2.5 trillion economic bloc. Ushering in a new era of development. The main objectives of the AfCFTA are to create a continental market for goods and services, with free movement of people and capital, and pave the way for creating a Customs Union. It will also grow intra-African trade through better harmonization and coordination of trade liberalization across the continent.

#Malawi gov mobilizes #PrivateSector #NGOs & other stakeholders to discuss @AfCfta & build consensus towards ratification #AfCFTA with @ATPC2 @_AfricanUnion @ECA_OFFICIAL @MalawiGovt @EU_Commission @ECA_SRO_SA @MoITTMW #implementingAfCFTA @EUtoAU @AUTradeIndustry pic.twitter.com/275hP76Cn0

— ECA (@ECA_OFFICIAL) September 16, 2019