Once your product gains access to the regional market, and they have confidence in it, then you can take it beyond the region to the rest of Africa and beyond,” Bwalya said. Published Thu, 1:19 AM EDT Updated Thu, 10:26 AM EDT. It will help you improve your standards and it is also cheaper in terms of transportation. What you should know about Africa's massive, 54-country trade bloc. “The proximity to the regional market should be like a training ground. And foreign trade specialist Lillian Bwalya asserted that regional trade blocs serve as launch pads for intercontinental trade. The Continental Free Trade Area (CFTA) framework agreement signed in 2018 by 44 African countries has ambitious long-term goals in deepening integration among. Spearheaded by the African Union (AU), the African Continental Free Trade Area (AfCFTA) agreement was signed in March 2018 and aims to substantially reduce both. Nyirenda also called for the strengthening of trade networks noting that networking platforms help improve information sharing among traders. While governments facilitate trade in Africa through the provision of policy frameworks, it is our duty as traders to ensure that our goods meet the standards of export and can compete favorably with others of similar Kind,” he said Nyirenda, who is immediate past president Zambia Association of Chambers of Commerce and Industry (ZACCI), further implored governments in Africa to continue providing necessary measures that work to facilitate trade within regional blocs.”This sort of work calls for cooperation. “We need to strengthen regional trade blocs because doing so will help in ensuring the realization of African Continental Free Trade Area (AfCFTA) dream and aspirations,” said Michael Nyirenda, an economist, in an interview with Xinhua. The experts also noted that regional trade blocs in Africa are helping in improving the quality of products and that many traders across the continent should be encouraged to fully exploit opportunities presented by the blocs. A key hindrance to integration in Africa has been the multiplicity of regional economic communities with overlapping memberships, resulting in a duplication of efforts and waste of scarce. There is general consensus among scholars, policy makers, and political leaders that the best way for African countries to develop is through regional trade. Strengthening regional trade blocs is key to perfecting the art of trade and reaping maximum benefits, experts said Thursday.
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