"Mozambique is waiting for the Assembly of the Republic to ratify the Resolution of the African Free Trade Area Agreement (AfCFTA) later this year, which, together with the National Implementation Strategy and the Tariff Offer, will make the implementation of this agreement effective," assured Silvino Moreno, Minister of Industry and Trade, during the opening of the Forum of Executive Directors of the Sub-Committee of SADC Development Finance Institutions.

This agreement will "boost the competitiveness of free trade in goods and services, requiring financial institutions to provide integrated and innovative mechanisms and solutions for accessing financial resources so that southern Africa can better and effectively participate in the continental market," Moreno explained.

The "Implementation of the AfCFTA, the Assessment of the SADC Region's Readiness and the Role of Development Finance Institutions" was the theme of the Forum, recently held in Maputo, which was attended by the government and around 120 dignitaries, including 66 from the SADC region.

Also in his speech, Minister Silvino Moreno acknowledged that "the successful implementation of these variables also depends on the mobilization and provision of accessible financial resources with alternative options to the normal mechanisms and models. It is the development finance institutions that, attentive to this regional reality in an integrated way, can and must play an active role".

In the case of Mozambique, which was represented by Gapi-SI as co-organizer, "the priorities that the government intends to achieve through the National Program Industrialize Mozambique, as a medium and long term approach, with regional and continental impact, are primarily oriented towards the valorization of local production, contribution to the increase in Gross Domestic Product (GDP) and generation of sustainable employment with a view to meeting the objectives of Agenda 2063".

For Rafael Uaiene, chairman of Gapi's Board of Directors, "the Maputo meeting is of the utmost importance, especially considering that this region has a lot of work to do to ensure the successful implementation of the AfCFTA, since it has the potential to foster industrialization, job creation and investment, thus strengthening its competitiveness and that of Africa as a whole."

Mozambique aims to be a regional, continental and global hub for production and logistical distribution, which will require significant investments in financial capitalization, especially for micro, small and medium-sized enterprises, as well as for women and young entrepreneurs.

The government stresses the importance of the role of this region's Development Finance Institutions in implementing and achieving the objectives of the African Continental Free Trade Area, especially since the SADC region is an economic bloc that, before the Covid-19 pandemic, had the highest growth rates.

In order to better face the challenges of the AfCFTA, SADC presented a framework of medium and long-term policy measures, prioritizing: Industrialization on an integrated basis and galvanizing internationalization and local valorization of resources and potential, development and competitive modernization of reference value chains, enhancement and sustainable use of logistics and trade facilitation infrastructures in a logic of regional corridors with continental and global impact based on digitalization, promotion of investments and development of Small and Medium Enterprises based on local content and valorization of human capital through vocational specialization and applied research.

Mozambique's strategic interest in the African Free Trade Area is centred on stimulating the internationalization of the economy and the private sector, by increasing and diversifying exports and investments, strengthening its geostrategic position in relation to trade in services, transport infrastructures and corridors as a driving factor in facilitating trade.