South Sudan told to ratify continental free trade treaty
The South Sudan chamber of commerce, industry and agriculture has called on the government to ratify the African Continental Free Trade Area (AfCFTA).
John Lual Akol Akol, the First Vice Chairperson for South Sudan National Chamber of Commerce, Industry and Agriculture said on Thursday that the country stands benefit from the vast market of 1.3 billon people.
“Our business cannot access international markets, the AfCFTA is going to give us economic diversification, it will encourage South Sudan to promote development in areas which are not developed,” he said during discussion on the protocols of African Continental Free Trade Area. held in Juba.
Adrian R. Njau, the trade and policy advisor for East African Business Council said they are working to ensure that all African countries trade under the African Continental Free Trade Area.
“We want now to start trading under the African Continental Free Trade Area, we want the government to address challenges in order for the private sector to take the benefits which are presented by AfCFTA,” said Njau.
“We are talking about the movement of people and the movement of capital, we are trying to form AfCFTA run by movement of people and movement of capital, we are not only talking about trade and investment,” he added.
Christine Peter Jabakana, the director general for the Ministry of East African Community Affairs, said the AfCFTA will open doors for enhanced trading relationships and increased investment prospects within the continent, fostering economic growth and sustainable development.
“To achieve a vibrant private sector in the Republic of South Sudan capable of driving our national economy is a commitment that each one of us needs to contribute our fair share, and in this regard, we will remain committed to render her support where necessary,” she said.
The African Continental Free Trade Area (AfCFTA) is a free trade area encompassing most of Africa. It was established in 2018 by the African Continental Free Trade Agreement, which has 43 parties and another 11 signatories, making it the largest free-trade area by number of member states, after the World Trade Organization, and the largest in population and geographic size, spanning 1.3 billion people across the world’s second largest continent.
