ADDIS ABABA – The Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) said that it has been providing policy advocacy and capacity building support for upholding efficient business ecosystem and promoting private sectors in continental market share.
ECCSA Deputy Secretary-General Wubie Mengistu made the above remark at the workshop sought to navigating trade barriers and enhancing private sectors partaking in the African Continental Free Trade Area (AfCFTA).
He reiterated that the chamber has been identifying business barriers via research, development of business issues, public private partnerships and dialogues in its
policy advocacy efforts, thus, addressing their pressing business hurdles, ensuring unity of purposes between and among government and private sector actors in their doing business.
In addition to improving African trade and growth the AfCFTA is supposed to improve African trade and growth visions, Wubie emphasized that it is believed to upturn market access to meet the needs of 13 billion Africans.
The agreement promotes investment, fosters innovation, business development and jobs, however, it poses potential threats such as unfair competition, regulatory challenges, undermining local products and dependency on imported products, and investment risks related to FDI overshadow local firms.
“Time consuming bureaucratic procedures, cumbersome custom procedures and clearance processes, border-crossing issues such as discriminatory treatment on women in business including goods confiscation, violence, and detainment are barriers to reaping AfCFTA agreement.”
He emphasized coordinated, sustained and collaborative efforts to ensure the Ethiopian private sector reap those benefits and ensure better implementation of the strategy.
Emphasizing streamlined organizational structure, bridging awareness gaps, and sector specific platforms for SMEs, he said, adding that digital systems should be harmonized to tackle the possible barriers.
Moreover, the chamber has been undertaking activities with government and development partners such as MoTRI, CIPE and ECA in a bid to maximize opportunities for the business communities to seize the ample market access in the international market, he noted.
Stressing the need to strengthen sector specific associations and structural shifts, he said exerting efforts on customs, procedures, processes, and border trade securities are crucial to facilitate seamless interactions with neighboring countries.
For his part, Amhara State Chamber of Commerce and Sectoral Association Secretary-General NibretBantigegn highlighted that since the country is mainly focusing on agricultural products, the agreement would help promote private sector benefit.
Moreover, with the goal of creating a single market for goods and services to deepen Africa’s economic integration in accordance with the pan-African vision of “an integrated, prosperous, and peaceful Africa” enshrined in Agenda 2063, it is crucial to facilitate trade and investment between African nations to capitalize the opportunities available through AfCFTA.
“Inclusive and equitable economic and integration systems should also be developed,” the Secretary-General added.
In order to effectively manipulate the agreement, transparency and awareness mechanisms to the private sector and the business community should be created. He added that policies and other barriers with the rules and regulations for impactful involvement in the agreement should be streamlined.
BY ASHENAFI ANIMUT
The Ethiopian Herald October 6/2024
