BY MBONO MDLULI
MBABANE – Prime Minister Russell Mmiso Dlamini wants all African people, particularly the vulnerable ones, to benefit from the COMESA free trade.
Dlamini believes that the existence of free trade areas or free trade agreements enhances the ease of movement of goods and services. That, according to the premier, should not only benefit the COMESA Member States, but shouls also benefit the people within the Member Countries.
Dlamini said this yesterday (Thursday, October 31, 2024). This was during the intervention by the premier on the participation of Eswatini on the Common Market for Eastern and Southern Africa (COMESA) Free Trade Area (FTA).
The prime minister said Eswatini remained fully committed in advancing the regional integration process with COMESA countries, including as we integrate with Africa and the rest of the world. He said following the launch of the Agreement establishing the Tripartite Free Trade Area (TFTA) comprising the Common Market for Eastern and Southern Africa, the East African Community and the Southern African Development Community (COMESA-EAC-SADC) which was agreed upon in Sharm El-Sheikh, Egypt on the June 10, 2015, the Kingdom of Eswatini signed and deposited the instrument of ratification on November 17, 2022. This is therefore a sign that the country is fully committed to the implementation of the TFTA.
He said the Kingdom of Eswatini understood the importance of open markets, free movement of goods, services and capital, as enshrined in the COMESA Treaty. The premier mentioned that the COMESA FTA offered a platform for its members to diversify trade, reduce dependency on a limited number of export destinations, and strengthen Members States’ economic resilience in an increasingly globalised world.
Dlamini said the COMESA FTA did not only give an opportunity to trade freely, but also allowed Member State to strengthen their ties. “The country’s full participation in the COMESA FTA is not only about enhancing trade, but also about deepening and strengthening our regional relationships. Through this platform, we have the opportunity to build stronger alliances with our neighbours, share knowledge, and collaborate in addressing shared challenges such as climate change, food security, and regional peace and stability,” Dlamini said.
He also mentioned that as a small economy, Eswatini’s growth in its strategic direction of manufacturing and production depended on agreements such as the Tripartite Free Trade Agreement (TFTA). As such, some industries could not be sustainable in the absence of the TFTA, according to the premier. To this extent, as Eswatini, we are working in the spirit of “Nkwe” to ensure that the TFTA is operationalised.
Under the TFTA, the premier said Eswatini participated as part of the Southern African Customs Union (SACU) and SACU was currently concluding its negotiations and our tariff offer with the East African Community (EAC). The negotiations will soon be extended to the rest of the TFTA membership, based on the negotiation modalities and we urge all Members to expedite the process of finalising the negotiations so that the agreement is implemented.
He said they looked forward to playing an active role in shaping the future of regional trade in Africa and ensuring that the benefits of the COMESA Free Trade Area were felt by all, particularly the most vulnerable in Africa’s societies. “As we move forward, let us work together to ensure that the COMESA FTA becomes a vehicle for inclusive growth, prosperity, and the upliftment of all our people,” Dlamini said.
The prime minister reaffirmed Eswatini’s commitment to the principles of free trade, regional cooperation, and economic integration. “We stand ready to fully engage in this historic endeavour, confident that through our collective efforts, we will achieve shared prosperity for all, including improving the livelihoods of our people,” he concluded.
