(Xinhua) — Zambia has officially published its provisional schedule of tariff concessions in the Government Gazette under the African Continental Free Trade Area (AfCFTA) Agreement, according to a statement released on Monday.
This marks Zambia’s readiness to commence trade under the African trade agreement following the introduction of a regulatory instrument, the Ministry of Commerce and Industry stated in the release.
The move also allows Zambia to expand its preferential trade access beyond the Common Market for Eastern and Southern Africa (COMESA) and the Southern African Development Community (SADC), it added.
“Therefore, the Ministry of Commerce and Industry encourages the private sector to seize this opportunity to enhance trade and business,” the statement read.
According to the announcement, the AfCFTA tariff concessions are divided into three categories: A, B, and C. The provisional schedule published in the Government Gazette covers Category A, which includes 90% of non-sensitive tariff lines with a gradual reduction period of 10 years, concluding in 2030.
The AfCFTA is Africa’s flagship initiative aimed at creating a single market of approximately 1.3 billion people with a combined gross domestic product of about $3.4 trillion.
It provides a framework for tariff reductions, trade in services, investment promotion, digital trade, competition policy, and intellectual property rights.
