The Mozambican government approved the tariff offer and the national implementation strategy for the agreement creating the African Continental Free Trade Area (AfCFTA) yesterday, Tuesday (06), through the Council of Ministers.

According to a note from the Council of Ministers, meeting at its 24th ordinary session, the approval of the tariff offer and the national strategy for implementing the initiative will grant Mozambique access to the AfCFTA adjustment fund, which aims to assist States Parties in implementing the agreement.

The offer also aims to use the Pan-African Payment and Settlement System (PAPSS), which will be made available jointly by the African Export-Import Bank (Afreximbank), thus enabling African companies to use the AfCFTA Secretariat for intra-African commercial transactions.

"The approval of the tariff offer also allows Mozambique to be part of the Guided Intra-African Trade Initiative for Goods," reads the document.

The initiative aims to create real opportunities in Africa, through the economic operators of the countries that have already submitted their tariff offers and are already carrying out commercial transactions in the value chains of products that include ceramic tiles, batteries, vegetables, avocados, flowers, pharmaceuticals, palm oil, tea, rubber and air conditioning components.

The tariff offer is an instrument that contains information on the price of the products and services that Mozambique will make available in the AfCFTA free of customs duties.

In 2022, Mozambique ratified its accession to the AfCFTA, after which it had to comply with the procedures of the trade in goods protocol, in this specific case.

(Photo DR)