Tough negotiations are happening behind the scenes between African governments to hammer out differences in their localisation and industrial protection policies in respect of the aims of the Africa Continental Free Trade Area (AfCFTA), which seeks to liberalise trade between the countries.
Three years after signing the African Continental Free Trade Area, Nigeria appears unprepared to compete in the trade regime...
An African supply chain that makes it difficult to move goods by water from Cameroon to Nigeria but easy to move goods from Cameroon to China and other countries is a threat to the regional integration plan.
The East African Community (EAC) partner states have been challenged to increase their volume of transactions under regional and international trade agreements.
Ghana’s export sector is said to be making giant strides as the Ghana Export Promotion Authority about two months ago announced a $3.3 billion increase in non-traditional export earnings for 2021.
“Actual trading is starting between Cameroon, Egypt, Kenya, Mauritius, Rwanda, Tanzania, Tunisia and Ghana. In the coming weeks, the dream of our forebears will be off the ground, and historic as the moment may be.”
U.S. positioning for the great power competition with China and Russia for influence in Africa.
Kenya which is among the 49 member states that have ratified the agreement, lacks product competitiveness due to quality challenges, high trade investment and trade costs.
The FTA supports Morocco’s goals to develop as a regional financial and trade hub, providing opportunities for the localization of services and the finishing and re-export of goods to markets in Africa, Europe, and the Middle East, says the report.
Last year (2021), India shipped $0.743 billion of apparel to Africa, which was 4.99 per cent of its total exports of $14.912 billion, and in January-April 2022, apparel exports to Africa stood at $231.328 million.
Seven countries, including Rwanda, Cameroun, Egypt, Ghana, Kenya, Mauritius and Tanzania have been selected among countries to start trading under the African Continental Free Trade Area (AfCFTA) framework in a pilot phase.
The NAC scribe said it has been acknowledged that the gains from AfCFTA will only materialise through comprehensive and sustainable implementation focused on outcomes,...
AfCFTA brings together the 55 countries of the African Union and eight regional economic communities to create a single market for the continent, with an aim to enable the free flow of goods and services across the continent
The draft ministerial regulation states that goods produced in SEZs shall be treated as originating goods provided they satisfy the rules of origin, member states are yet to agree on import duties being paid on the inputs of these products.
The State of Israel which produces about $1.2 billion worth of agricultural inputs and technology has expressed its readiness to partner with indigenous companies to augment Ghana’s local production.
“Kenya will incur the largest loss at $14.2 million, followed by Uganda at $13.5 million. Tanzania is estimated to register revenue loss of $5.3million, Burundi $4.3million and Rwanda $ 3.9,” the Economic Policy Research Center (EPRC)shows.
The vote on the “Future of EU-Africa trade relations” focuses on five key themes: infrastructure, food security, civil society, fair trade agreements and sustainable economic development.
The agreement was brokered by the African Union (AU) and was signed by 44 of its 55 member states in Kigali, Rwanda on March 21, 2018. The only country still not to sign the agreement is Eritrea, which has a largely closed economy.
To date, a total of forty-three (43) African countries are State Parties to the Agreement of the AfCFTA, including twelve (12) ECOWAS Member States.
Six countries drawn from three regional economic blocs are yet to ratify the African Continental Free Trade Area (AfCFTA), delaying its implementation more than a year after it was formally launched in January 2021