President Cyril Ramaphosa says in order for local companies to take full advantage of the African Continental Free Trade Area (AfCFTA) by exporting goods to the rest of the continent, more focus should be put on fixing the logistic architecture of South Africa.
The President encouraged more South African companies to take advantage of the African Continental Free Trade Area and participate in exporting goods into the whole African continent.
Last week, Ramaphosa launched South Africa’s first Trade shipments under the trade area at the Port of Durban in KwaZulu-Natal.
The President says there will be an introduction of strategic partnership in container terminals which will enable new investment to expand port capacity and upgrade equipment.
South Africa is the first among the four Southern African Customs Union countries to practically realise the AfCFTA Agreement.
The AfCFTA is hailed as a critical enabler for economic transformation across Africa and aims to create a single market and foster access to commodities, goods and services across the African continent.
Ramaphosa elaborates:
This week’s #MiningIndaba in Cape Town will showcase the enormous potential of the mining industry to drive economic growth and job creation. The actions underway to improve the logistics system will help us to unlock this potential, given that mining companies depend on the rail… pic.twitter.com/Gg2rO7nyv9
— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) February 5, 2024
VIDEO | Ramaphosa officiates the launch of SA’s first shipment under the AfCFTA:
