Mozambique will become a full member of the African Continental Free Trade Area (AfCFTA) in January next year, when it will begin to explore the business opportunities that this platform offers to member countries, especially in terms of internationalization and productive specialization.

The announcement was made this week in Maputo by the Minister of Industry and Trade, Silvino Moreno, who added that Mozambique's entry is also an opportunity to increase investments with an impact on the trade balance, in line with the government's Five-Year Program.

According to Silvino Moreno, quoted by NewsThe AfCFTA complements other projects that mutually reinforce support for trade and investment, especially since the continental free trade market is projected to increase intra-African trade from less than 12% in 2013 to more than 50% in 2045, as well as increasing Africa's share of global trade from two to 12%.

In order to ensure entry into this market, the government approved the Resolution on Mozambique's Tariff Offer and the National Strategy for the Implementation of the Agreement creating the AfCFTA.

With these instruments, the Executive intends to access the AfCFTA Adjustment Fund, which aims to assist the state parties in implementing the agreement.

The document will also allow the country to be part of the Guided Intra-African Trade Initiative for Goods, aimed at creating opportunities in Africa through economic operators from countries that have already submitted their tariff offers and are already carrying out commercial transactions in the various value chains.

Looking back on this journey, he called on national companies to take greater advantage of this platform by investing in the certification of their brands and products, essential elements for enjoying the advantages and opportunities of the market.

Africa will be the largest free trade area in the world, measured by the number of countries, 55. It connects 1.3 billion people, representing a Gross Domestic Product (GDP) of 3.4 billion dollars.

(Photo DR)