Ministry of Commerce, Industry and Trade Principal Secretary (PS) Melusi Masuku, has emphasised the crucial role of the African Trade Observatory (ATO) in empowering businesses with the necessary trade intelligence to navigate and seize emerging opportunities across the continent.
He highlighted that the ATO’s capacity to provide real-time and reliable data was essential for informed decision-making and strategic planning in the rapidly evolving landscape of African trade.
Masuku pointed out that the inclusion of the trade in services data management component in the second phase of the ATO project was a significant development.
This initiative, supported by the International Trade Centre (ITC), aimed to enhance Eswatini’s ability to collect and process trade in services data.
He expressed gratitude for this support, noting that the lack of detailed and reliable trade data had historically hindered the nation’s ability to fully leverage intra-African trade opportunities, particularly in the services sector. The PS noted the growing importance of services in global trade, stating that they constitute a significant portion of the GDP for most African countries, including Eswatini.
“ In fact, according to the African Development Bank’s Country Focus Report of 2024, the services sector contributed approximately 51.3 per cent to Eswatini’s GDP in 2023,” he said. However, he noted that the current state of trade in services data remained limited, with only a few countries worldwide providing detailed statistics.
To address this gap, the ongoing workshop aims to provide practical guidance on data collection, processing and dissemination, with a particular focus on travel services within the broader context of trade in services.
Over the next three days, participants will explore key concepts, methodologies and best practices essential for compiling high-quality trade-in-services statistics.
This effort not only supports the objectives of the ATO but also contributes to the successful implementation of the African Continental Free Trade Area (AfCFTA).
Masuku commended the ITC and the European Union for their continued technical and financial support to Eswatini.
He described their contributions as invaluable in striving to create a more integrated and prosperous Africa, what he termed “The Africa we want.” He expressed hope that Eswatini would position itself as the Southern African Trade Hub.
Masuku encouraged all participants to work collaboratively to unlock the full potential of trade in services, benefitting not only the people of Eswatini but the entire African continent.
