AfCFTA remains region’s best bet to transform market access for SA - Ramaphosa

President Cyril Ramaphosa said the Africa Continent Free Trade Area (AfCFTA) remains the region's best bet to transform market access for South African goods, services and investments.

The agreement was established by the African Union (AU) in 2018 to create a single continental market for goods and services across Africa.

It's meant to enhance intra-African trade by reducing tariffs and eliminating trade barriers.

ALSO READ: Ramaphosa says SA will be able to showcase an economy on the rise as it prepares to host G20 Summit

Ramaphosa met some CEOs in Sandton on Tuesday to strengthen ties between government and big business.

He said investment on the continent will drive regional integration and value chains across borders.

“It will expand opportunities for businesses to access a wider African market of about 1.4 billion people, with a combined GDP of 3.4 trillion US dollars. Grounded in our shared belief that South Africa’s growth and prosperity is intrinsically intertwined with that of the African continent and amplified by our common heritage and shared future, we must undertake this work with greater purpose and focus.”

Ramaphosa is also set to meet with African heads of states and governments who have been invited to the G20 Leaders’ Summit later in the week.

“This will be an opportunity to reaffirm the commitment of South African companies to the development of our continent.”

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