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AfCFTA
Ahead of the African Continental Free Trade Agreement (AfCFTA) implementation in Nigeria, the Nigerian Institute of Chartered Arbitrators and other stakeholders are seeking dispute resolution mechanisms that will address concerns of non-state entities.
The administration of US President Joe Biden has kicked off the Prosper Africa Build Together initiative by requesting $80 million from Congress to build trade and investment between the US and Africa.
Talks aimed at finalising key aspects of the new African Continental Free Trade Area are facing delays, as member countries work to reach an overarching agreement on rules of origin and tariff reduction schedules.
The US’s trade chief plans to convene a meeting with African ministers before the end of the year to strengthen partnerships and discuss a law that provides duty-free access to the U.S. for thousands of goods from sub-Saharan nations.
Founder of Peezel Farms believes South African poultry farmers need new markets as they continue to be undermined by current regulations which allow some foreign countries to dump their chicken products in the country.
Dr. Obeng, addressing the press during the week intimated that AfCFTA will only be successful if African countries solely trade in goods manufactured in their country of origin to prevent dumping.
Nigerian Association of Chambers of Commerce, Industry Mines and Agriculture has charged the federal government to domesticate the African Continental Free Trade Area so as to enable the country to benefit from the full implementation of the agreement.
Korean companies will archive market access through regional integration in Africa and East African region if Kenya is made base, according to Betty Maina, Kenya’s cabinet secretary for industrialization, trade and enterprise development.
African nations plan to raise about $8 billion for a fund to help offset revenue losses for countries that lower cross-border tariffs, as part of a continent-wide free-trade agreement.
Zimbabwe and Malawi are engaged in talks to revise their Bilateral Trade Agreement to ensure its provisions speak to a modern-day investor and assist in addressing pressing development needs of the two countries.
In a document that was made public this Tuesday, July 6, 2021, it was confirmed that Burundi officially ratified the agreement establishing the African Continental Free Trade Area on June 17, 2021.
Indian companies are flourishing well in overseas. The African Continental Free Trade Area (AfCFTA) provides a window to the Indian companies to tap a unified African market.
The Economic Commission for Africa today made a pre-launch presentation of a report which offers policy recommendations to member states wishing to take advantage of the economies of scope and scale of the envisioned AfCFTA Investment Protocol to attract investment.
AfCFTA’s secretary-general met with the Angolan President João Lourenço to discuss issues related to the challenges and development of AfCFTA, whose main objective is to achieve continental economic integration.
National Assembly of Seychelles approved the ratification of the African Continental Free Trade Area (AfCFTA).
Some economists suggest that the liberalization of trade will result in an unequal distribution of losses and profit gains while economically dislocating a large number of workers in import-competing sectors.
The World Bank’s updated strategy for Africa will aim to promote trade and market integration through trade facilitation in regional economic corridors, technical assistance for roll out of the AfCFTA, support to regional value chains and integration of financial markets.
Zimbabwean private sector has concerns that the African Continental Free Trade Area (AfCFTA) would knock them out of business as high quality, competitively-priced products flood the domestic space.
The Nigerian Minister of Industry, Trade and Investment, has called for the establishment and strengthening of more arbitration institutions in Africa in line with international standards.
The Nigerian creative sector argues that the scalability of the industry within the AfCFTA will depend on the existence of a robust framework that supports IP rights and provides digital security.
