EU calls for reforms in continental FTA

 The European Union (EU) Delegation to Malawi has called for policy reforms and investment to enable member States to reap benefits from the African Continental Free

 Trade Area (AfCFTA).

EU Ambassador to Malawi Rune Skinnebach said this on Friday in Lilongwe during a panel discussion at the African Union High-Level Stakeholder Conference.

The discussion was on the role of regional economic communities and regional bodies in supporting the implementation of the AfCFTA, a market of 1.2 billion and an estimated $3 trillion in combined gross domestic product.

Skinnebach observed that successful implementation of

 AfCFTA is not a given, arguing beyond a signature and ratification, there is need for a good dose of political will and institutional capacity.

“This is essential to turn AfCFTA’s potential into tangible outcomes and above all African States benefiting from the agreement also the smaller markets or fragile countries,” he said.

Skinnebach pledged that EU will continue siding with African Union to pursue complementary economic reforms.

African Union Commission acting director of industry, mining and entrepreneurship, Chiza Charles Chiumya, said AfCFTA will only make

 sense when people buy in into the agreement.

He said: “We have to produce for the market ourselves and not importing from elsewhere. This means jobs and wealth creation for us.

“Goods produced by ourselves will have an impact and SMEs must go big now to suit the market.”

Chiumya urged member States to consider harmonising the trading regimes.

He said the AU Commission is conducting a study that will map all regional lucrative value chains to ensure countries take advantage of their strength and partner with other producers and off takers for mutual benefits.

African Union economic, social and cultural council principal coordinator William Carew urged civil society organisations to educate citizens by demystifying AfCFTA to localise it to ensure that it is not seen to be foreign.

Common Market for Eastern and Southern Africa Business Council first vice-president James Chimwaza, who is also Malawi Confederation of Chambers of Commerce and Industry president, said the business community is already working to take up available opportunities in AfCFTA.

He said they have been conducting capacity building for the private sector’s buy in into the AfCFTA agreement.

The high-level conference was held under the theme AfCFTA: An Engine for Africa’s Social and Economic Transformation