Ethiopian business women said that the African Continental Free Trade Area (AfCFTA) would bring multifaceted economic importance to the people of Africa.
In an exclusive interview with ENA, Alemtsehai Lelisa, a businesswoman who is engaged in textile manufacturing sector, said the continental free trade area will be very beneficial to the business community in general.
According to her, the youth and women would in particular benefit a lot from AfCFTA as it is a good opportunity for manufacturers to widen market destination for their products.
The businesswoman noted that AfCFTA would undoubtedly bring opportunities for the business community on the continent.
As continental free trade area would bring huge job opportunities for the youth, it can help prevent youth migration to European and other countries, she stated.
“It can also alleviate foreign currency problems among African countries thereby enabling the continent to gain economic independence.’’
Furthermore, it would attract FDI to the continent by bringing in more investors in the manufacturing sector.
Alemtsehai also believes that continental free trade area will encourage manufacturers to produce better quality standards with the view to competing in AfCFTA’s huge market.
The other businesswoman, Gongi Hadia who exports agricultural products said that Ethiopians and other Africans are not well familiar with one another.
AfCFTA would, therefore, create favorable conditions for them to be familiar with one another and bring out what Africa has in terms of resources and other values.
She further stated that continental free trade area has a geographical market advantage as compared with produces that come from other continents like the EU and Asia.
Hadia also pointed out the significance of AfCFTA in import substitution with African products.
Beyond bringing economic benefits to African countries, the continental free trade area would help to enhance knowledge and experience exchange, brotherhood, social and economic integration among the people of Africa, the businesswoman added.
AfCFTA, which is the world’s largest free trade area, brings together some 55 countries of the African continent with a combined GDP of approximately 3.4 trillion USD.
Source: Ethiopian News Agency