Zimbabwe snubs Africa free trade to stabilise local industries
London, Feb. 18, 2019 (AltAfrica)-Zimbabwe has shelved its plans to join the Africa Continental Free Trade Area (ACFTA).
The country declined to sign the agreement because it was to find space to stabilise local industries which are struggling to produce enough quality goods to compete outside.
Industry and commerce ministry’s director of international trade, Beatrice Mutetwa said while addressing parliamentarians that more time, like 15 years, would be required out of the ACFTA because the country`s local industry is not producing enough to be able to compete with other countries.
Mutetwa said Zimbabwe was in a peculiar position and needed to work towards achieving an even landscape.
Member countries are requested to open up 90 percent of their markets but Zimbabwe had only offered up 85 percent as considerations are still being made on how the key sectors like tourism and mining will be protected.