Dtic restructuring to focus on AfCFTA
16 Jul 2019 - by
Department of Trade, Industry and Competition (Dtic) minister Ebrahim Patel, is set to restructure the department to focus on the African Continental Free Trade Agreement.
Speaking during his budget vote speech last week, Patel said for this year the department would facilitate entry into more markets for South Africa’s products.
“The AfCFTA is the single biggest initiative that will connect 1.2 billion people into a single bloc where local products will be traded between countries with minimum tariffs.”
Government has yet to finalise a tariff schedule which will list all the products covered by the AfCFTA.
It will include the rules of origin which sets out what products qualify as a locally manufactured article.
“We will have to work very hard as government, businesses and workers to pull our economy out of its weaknesses and speed up the journey to a strong, growing economy.”