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Find all the economic and financial information on our Orishas Direct application to download on Play StoreFollowing the formal entry into force of the Continental Free Trade Area Agreement on July 7, 2019, the 54
signatory countries, including Senegal, have entered the phase of formulating their national strategy in
prospect of the effective implementation of the agreement, in June 2020.
In terms of intra-regional trade, Africa is lagging behind. The observation is quantified, the statistics
eloquent. Trade between African countries does not exceed 15%, whereas in the Union
Europe, Asia or North America, this represents 70%, 52% and 50% respectively.
It is in this context that the Continental Free Trade Area (Zleca) was set up and the agreement
establishing it officially entered into force on July 7, during the 12th extraordinary summit of
Heads of State and Government of the African Union held in Niamey. The implementation of this area of
free trade, according to the African Economic Commission (ECA), could increase intra-African trade
by 52.3% by eliminating customs duties on imports and doubling it if non-tariff barriers are
reduced.
However, after this operational phase, the 54 signatory countries must take up the challenge of implementing
projected to June 2020 and considered the most crucial step. To do this, each country is in
the obligation to formulate its own national strategy. In this regard, Senegal has already initiated the
countdown. The various actors met yesterday in a workshop to identify the elements to be
taken into account in formulating this strategy. For three months, seven working groups
for as many themes have been mobilized for this purpose.
Currently, more than 40% of Senegal's exports are absorbed by the African market. With the bet
implementation of the Zleca, this figure could be revised significantly upwards. By embarking on the development of
this strategy, "our country intends to take advantage of all the opportunities of this vast market of 1.2 billion
inhabitants, representing a cumulative GDP of more than 2,500 billion US dollars", recalled the
Minister of Commerce and SMEs, Assome Aminata Diatta.
Even if the prospect of conquering a market worth more than a billion is attractive, the fact remains
no less than the national private sector harbors some apprehensions. Speaking on their behalf, Riad Boukaroum
did not fail to point this out. “The national private sector welcomes with great hope the launch
of the Zleca, but also with great concern about the inconveniences that may arise from it and
hamper the smooth running of our national economy," he said. “With this implementation, we will
Of course, we will end up with a large market, but we will also face tough competition.
with behemoths in some countries,” he added. Mr. Boukaroum considers economic operators
will have to make a lot of effort, but they will also need support from the administration.
The representative of the African Economic Commission (ECA), Souleymane Abdallah, hailed "the originality
of the Senegalese approach in the process of developing the national strategy by its character
participatory”. According to him, this is "a guarantee of real ownership and bodes well for the best prospects
synergy in implementation.
Elhadji Ibrahima THIAM
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