SA Consents to Arrangement On Facilitated commerce Inside Africa.
President Cyril Ramaphosa on Sunday said he was elated that the nation is now part of the network of countries that have signed.
South Africa has joined just about 50 other African states in consenting to an arrangement that would prompt free trade in the continent.
It’s as yet a lengthy, difficult experience to go, yet the continent is a bit nearer to understanding its organized commerce dream, with five more nations signing the African Continental Free Trade Agreement at the 31st African Union summit as of now in progress.
South Africa, Namibia, Sierra Leone, Lesotho and Burundi have joined the 44 countries that signed the agreement in Kigali three months ago.
Trade and Industry Minister Rob Davies said the nitty-gritty needed to be put into place before it was commercially viable.
The agreement will go to Parliament before South Africa can ratify the agreement.
Six countries have so far ratified it, with 16 more to go before the continental free trade area could become a reality.