Ken Ukaoha is the president of the National Association of Nigerian Traders (NANTS) and shares his view on the African Continental Free Trade Area (AfCFTA)
The African Continental Free Trade Area will officially enter into force during the next Extra-Ordinary Heads of State and Government summit slated for 7th July 2019 in Niamey, Niger.
African governments must act immediately to address the AfCFTA’s potential negative implications for Africans’ health.
As a second step, negotiators will focus on rules pertaining to intellectual property rights, competition policy and investment, which they aim to finalise by June 2020.
The African Union agreed last year to create a free trade zone on the continent but Africa’s largest economy, Nigeria, isn’t on board with the agreement.
Among the key issues where negotiations are still needed include the rules of origin, non-tariff barriers, structure of implementation, schedule of concessions and tariff books.
The deadline set by the Tripartite Council of Ministers for member States of three regional economic blocs to sign and ratify the tripartite free trade area lapses this month.
The National Association of Nigerian Traders (NANTS) has warned that the implementation of African Continental Free Trade Agreement (AfCFTA) in Nigeria would increase unemployment among farmers, and farm workers in the country.
The Gambia became the 22nd country to ratify the agreement effectively helping meet the minimum threshold.
The National Association of Nigerian Traders (NANTS) thrown its weight behind President Muhammadu Buhari’s refusal to signed and ratified the African Continental Free Trade Agreement (AfCFTA).
The African Continental Free Trade Area (AfCFTA) is nearing reality as only one country is left to ratify the Agreement for the deal to reach the 22 countries required for the Agreement to effectively come into force.
Negotiators are hoping to break the back on talks for the successor to the Cotonou Agreement, which expires in May 2020, between the EU and 79 countries in Africa, the Caribbean and the Pacific (ACP).
Zimbabwe should ramp up value addition and beneficiation of its products beforehand, says official.
If this agreement comes into force, it is likely, because of the peculiarities of the insertion of Africa into the world capitalist civilization, to be among the worst of the free-trade wave that is underway.
The entry into force of the AfCFTA is a decisive stage of the African Union’s neoliberal Pan-Africanist project.
Ethiopia is the latest country to approve the African Union’s Africa Continental Free Trade Area, AfCFTA pact after the cabinet passed the deal.
The Manufacturers Association of Nigeria has again warned Nigeria against signing the African Continental Free Trade Area to save Nigeria from being a dumping ground for foreign goods.
African countries, backed by the EU, want internal and external free trade, which will wreck local agriculture, and rural economies and societies.
Members of the East African Community to implement trade facilitation reforms including reducing “non-tariff barriers”.
Business groups have supported the Nigerian Federal Government’s delay in signing the African Continental Free Trade Area, stressing that adequate measure should be put in place to prevent dumping of goods into Nigeria and Africa countries in general.