Products from the Nkok Special Economic Zone (GSEZ)are now accessible on the African Continental Free Trade Area (AfCFTA) market. This announcement was made by the Secretary General of the AfCFTA, Wankele Mene, during a meeting with Gabonese President Ali Bongo Ondimba in Libreville on 6 March. The market aims to boost intra-African trade and attract global investors.
The discussions between President Ali Bongo Ondimba and Wamkele Mene revolved around access to the AfCFTA, which serves as a platform for trade across the continent. According to Mene, Gabon currently holds the presidency of the AfCFTA meetings and has played a pivotal role in the recent adoption of three protocols during the summits of Heads of State.
"There is also a very important point concerning goods produced within the Nkok zone. These goods will now have access to the AfCFTA market. It is a very important point for Gabon to know that the goods produced within the Nkok zone are now accessible on the continental market.", stated Mene following the meeting.
Launched in January 2021, the AfCFTA agreement commits African countries to removing customs duties on 80% of the goods they produce. Its ultimate objective is to create a common African market of 1.3 billion consumers, enabling goods to circulate freely and boosting the economic development of member countries.
"The AfCFTA offers Gabon and the ECCAS zone an opportunity to create jobs and wealth within this sphere. It is important for Gabon to seize the opportunities presented by the AfCFTA, to generate wealth and benefit from the immense potential of the African continental market.", Mene emphasized.
Gabon aims to leverage this access to expand its exports within Africa, which currently account for only 3.3% of the country's total exports, according to the United Nations Conference on Trade and Development.
The Nkok Special Economic Zone (GSEZ), which now has 87 operational companies and 7 more under construction, processes an average of 1,600 imported containers each month. It has attracted over $2 billion in foreign investment, presenting Gabon with significant opportunities for economic growth through intra-African trade.
Credit: GABON Review