Zambia says peace vital in smooth implementation of African free trade area

Source: Xinhua| 2020-02-06 20:20:51|Editor: xuxin
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LUSAKA, Feb. 6 (Xinhua) -- Peace and stability are vital if Africa is to see any tangible benefits from the implementation of the Africa Continental Free Trade Agreement (AfCFTA), a government official said on Thursday.

Minister of Foreign Affairs Joseph Malanji said Africa will only thrive if it tackles the problem of instability that has ravaged some countries.

The Zambian minister said the southern African nation supports the African Union (AU) agenda of creating a single market as envisaged in the country's 7th National Development Plan (7NDP) that promotes an open and liberalized economy, according to a release from his office on the sidelines of the 34th AU summit in Ethiopia.

The AfCFTA which was unveiled in March 2018 creates a single continental market for goods and services as well as a customs union with free movement of capital and business travellers.

It is meant to create a tariff-free continent that can grow local businesses, boost intra-African trade, rev up industrialization and create jobs.