Little knowledge of the African Continental Free Trade Area (AfCTA), according to the Zambia Institute of Policy Analysis and Research (ZIPAR), may prevent Zambian enterprises from taking advantage of the many opportunities the program offers.
The government should ask Zambian embassies in Africa to conduct market research on the commercial potential available under the auspices of the AfCTA, according to ZIPAR Executive Director Herrick Mpuku.
According to Dr. MPUKU, organizations in the public sector that deal with trade must do their bit and devise a plan to collect data so that companies can make wise investment choices.
The AfCTA, according to Dr. MPUKU, is a significant opportunity with hazards since it will increase competition, particularly in industries that have historically been shielded.
In an interview with ZNBC News today in Lusaka, Dr. MPUKU made this statement.
He claims that without being subject to the trade restrictions that have shielded some local enterprises, Zambian businesses will be exposed to larger players on the continent who will have easy access to the Zambian market.
Dr. MPUKU has additionally advised the government to use the AfCTA’s adjustment fund in order to protect the nation from trade difficulties that may occur as companies transition to the new continental free trade market system.