The Minister of state for trade industry and coperatives Gen Wilson Mbasu Mbadi has emphasised the need for Ugandans to diversify our exports and find new, larger markets for our goods and services so as to take advantage of the African Continental Free Trade Area (AfCFTA).
“The AfCFTA is that new, larger market. It opens 54 new doors for our products”.
The Minister made the remarks during the Inauguration of the African Continental Free Trade Area (AfCFTA) National Implementation Committee (NIC).
The Minister says the committee comprising of 36 members will serve as the primary national coordination mechanism for guiding AfCFTA implementation, providing policy oversight, and fostering collaboration among government ministries, private sector, civil society, and development partners.
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The African Continental Free Trade Area (AfCFTA) represents a landmark opportunity for Uganda to boost intra-African trade, foster economic growth, and enhance its integration into the global economy.
Ratified by Uganda on 28th November 2018, the AfCFTA aims to create a single continental market for goods and services, with free movement of business persons and investments.
Successful implementation requires coordinated efforts from various stakeholders, including government ministries, agencies, the private sector, civil society, and academia.
To effectively leverage the benefits and navigate the complexities of the AfCFTA, the Government of Uganda has formulated the AfCFTA National implementation Strategy and established the National Implementation Committee (NIC).
This multi-stakeholder committee comprised of key government ministries, private sector leaders, civil society organizations, and development partners is mandated to coordinate and oversee the implementation of the AfCFTA agreement at the national level, ensuring a coherent and impactful approach and will be over seen by the Ministry of Trade Industry and Cooperatives.
