AfCFTA to contribute to economic growth in Africa: S. African official
                 Source: Xinhua | 2019-07-16 18:23:21 | Editor: huaxia

Chairman of the African Union (AU) Commission Moussa Faki Mahamat, Egyptian President and African Union Chairman Abdel Fattah al-Sisi and Nigerien President Mahamadou Issoufou attend the launching ceremony of the operational phase of the African Continental Free Trade Area (AfCFTA) Agreement in Niamey, capital of Niger, July 7, 2019. (Str/Xinhua)

JOHANNESBURG, July 16 (Xinhua) -- The African Continental Free Trade Area (AfCFTA) will make South Africa's trade promotion more effective and it is strategic to economic growth in the country and the continent, according to a South African senior government official.

The Minister of Trade and Industry Ebrahim Patel made the remarks on Monday while commenting on the AfCFTA.

He said it would be great for the manufacturing sector because their products would be bought and sold to a market of 1.2 billion people.

"The agreement will fundamentally change and reshape the South African economy. Already, exports to other African countries support about 250,000 South African jobs and it is the fastest growing part of our manufactured exports," said Patel.

Photo taken on July 27, 2017 shows two Chinese locomotives to be assembled at the Transnet Engineering Koedoespoort Plant in Pretoria, South Africa. (Xinhua/Zhai Jianlan)

He pointed out that the initiative would lay the basis for increased infra-Africa trade and cement the continent's position as the next growth frontier.

Patel noted that there is still work to be done to finalize the detailed modalities so as to enjoy the benefits of the agreement.

"But to realize the gains, we will need to address many challenges too, including a strong domestic and Africa-wide customs administration, systems to enable swift payments between countries; proper infrastructure connecting African countries with each other," he said.

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AfCFTA to contribute to economic growth in Africa: S. African official

Source: Xinhua 2019-07-16 18:23:21

Chairman of the African Union (AU) Commission Moussa Faki Mahamat, Egyptian President and African Union Chairman Abdel Fattah al-Sisi and Nigerien President Mahamadou Issoufou attend the launching ceremony of the operational phase of the African Continental Free Trade Area (AfCFTA) Agreement in Niamey, capital of Niger, July 7, 2019. (Str/Xinhua)

JOHANNESBURG, July 16 (Xinhua) -- The African Continental Free Trade Area (AfCFTA) will make South Africa's trade promotion more effective and it is strategic to economic growth in the country and the continent, according to a South African senior government official.

The Minister of Trade and Industry Ebrahim Patel made the remarks on Monday while commenting on the AfCFTA.

He said it would be great for the manufacturing sector because their products would be bought and sold to a market of 1.2 billion people.

"The agreement will fundamentally change and reshape the South African economy. Already, exports to other African countries support about 250,000 South African jobs and it is the fastest growing part of our manufactured exports," said Patel.

Photo taken on July 27, 2017 shows two Chinese locomotives to be assembled at the Transnet Engineering Koedoespoort Plant in Pretoria, South Africa. (Xinhua/Zhai Jianlan)

He pointed out that the initiative would lay the basis for increased infra-Africa trade and cement the continent's position as the next growth frontier.

Patel noted that there is still work to be done to finalize the detailed modalities so as to enjoy the benefits of the agreement.

"But to realize the gains, we will need to address many challenges too, including a strong domestic and Africa-wide customs administration, systems to enable swift payments between countries; proper infrastructure connecting African countries with each other," he said.

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