This, the Executive Secretary of SACU Paulina M. Elago stated at the Webinar on the Implementation of AfCFTA in the Southern African Customs Union (SACU).
She said it seeks to create a single integrated market for goods, services, and promoting cross-border movement of capital as well as persons, which are crucial for deepening economic integration.
She noted that the AfCFTA will enable SACU region and the continent at large to deepen integration, a move that is in line with SACU’s own objectives.
Ms Elago said the 13th Extra-Ordinary Session of the African Union Assembly of Heads of State and Government held on December 5, 2020 has set June 2021 as deadline to complete all the Built-in Agenda issues for Phase I of the AfCFTA negotiations, including tariff offers and outstanding Rules of Origin.
She said with such an enormous market presented by the AfCFTA, it is incumbent upon the SACU private sector to seize and capitalise on the opportunities to grow their business through regional value chains and cross border trade.
She said without the participation of the business sector, all the efforts will be meaningless, adding that in this regard, the SACU Council of Ministers has agreed to prioritise industrialisation through the development of Regional Value Chains, Export and Investment promotion.
Earlier, Prime Minister Dr Moeketsi Majoro had shown that the African Free Trade is going to open a large market for Lesotho's produce across Africa.