By Phiwa Sikhondze
In a bid to boost the national economy, Eswatini has embarked on a mission to expand its export sector, aiming to achieve E50 billion in exports within the next five years.
This initiative is anticipated to generate substantial foreign revenue and create numerous job opportunities, fostering the country’s economic development.
“By exporting, the country is reaping benefits such as foreign revenue generation and most importantly job creation which results from expansion of your businesses driven by external demand,” the Minister of Commerce, Industry and Trade, Manqoba Khumalo said.
The Minister was represented by the Ministry’s Principal Secretary, Siboniso Nkambule during the award ceremony.
To facilitate growth, the government has pledged to support this through various measures, including the implementation of export readiness training programs.
Khumalo encouraged everyone to push all boundaries in increasing exports, emphasizing the need for collaboration with development partners to elevate small and medium enterprises (SMEs) to the status of exporting businesses.
In line with the African Continental Free Trade Area (AfCFTA) implementation strategy which includes providing access to trade finance as a key objective to spur exports, the government aims to provide access to trade finance for MSMEs, encouraging financial institutions to develop innovative export finance products tailored to their needs.
Moreover, in line with His Majesty’s Speech from the Throne, the government is also focusing on streamlining border formalities to facilitate easier trade.
“In our quest as a country of becoming a global commerce hub, we should also work towards streamlining border formalities to make trade easy,” the Minister stated.
“My Ministry pledges to continue supporting you with formulating enabling trade policies, opening more preferential markets, and providing incentives to make our exports more competitive. We are working with EIPA in reviewing their Act and will further support them in establishing a one-stop shop to streamline and fast-track businesses and investor facilitation,” Khumalo added.
Eswatini’s commitment to enhancing its export capabilities is evident, and the government’s support is poised to create a competitive and efficient export sector. The call for applause for the country’s exporters highlights the significance of their contribution to the economy.