The AfCFTA will give the African Union the chance to become a strong, independent player in the world economy – at least that is the optimistic forecast. But there are good reasons to cast doubt on the high hopes pinned on the African free trade area.
Ghana government has waived import duties on imported equipment, machines and raw materials for local manufacturing companies to enable them to become competitive in the global marketplace.
The Council of Ministers of the Southern African Development Community has urged Member States that have not yet signed and ratified the AfCFTA and the TFTA to do so to allow for the implementation of the agreements.
The AfCFTA Secretariat and the UN Development Programme (UNDP) today have signed a strategic partnership to promote trade as a stimulus for Africa’s socioeconomic recovery from the COVID-19 crisis.
The government of Ghana has expressed its interest in concluding the negotiations with Japan on the Bilateral Investment Treaty (BIT), which has been pending since April 2014.
The implementation of the African Continental Free Trade Area (AfCFTA) may enslave Africans to the rest of the world if the challenges associated with the programme are not fixed, the Citizen Watch, a think tank group has revealed.
Only 21% of cases administered by ICSID involve African investors, however, this may change with the introduction of AfCFTA, and we may begin to see more disputes involving African investors and African states.
African countries want India to help in mechanising agriculture, build social and physical infrastructure and provide more vaccines
Private sector lobbies in Africa’s six regional trading blocs have formed the African Business Council, a continental umbrella body to spearhead the business agenda for the African Continental Free Trade Area (AfCFTA).
Ministers from the tripartite group of regional economic communities in eastern and southern Africa have set June 2021 as the deadline to achieve the threshold of 14 ratifications required to enable the Tripartite Free Trade Area (TFTA) enter into force.
The trade deal would provide a gateway to the markets of the African continent as Mauritius has several pacts with them
South Africa’s preferential market access to the U.S. is under review, however, the country is apprehensive about striking a new trade deal with the U.S. and would rather maintain existing relations with the world’s largest economy.
African countries negotiating free trade agreements with parties from other parts of the world will be required to grant the same preferences or better terms to African Continental Free Trade Area (AfCFTA) member states.
African countries want to trade more with their partners on the continent – through the African Continental Free Trade Area (AfCFTA) agreement that launched operations on 1 January – but will that hurt big trading partners like China?
China’s free trade agreement with the small island-nation of Mauritius came into effect in January, increasing the Asian powerhouse’s presence in the Indian Ocean where its regional rival India has long dominated.
Economists deconstruct the myth surrounding the trade agreement
The African Export-Import Bank has mobilized $1 billion for an adjustment facility to offset revenue losses for countries that lower cross-border tariffs as part of an Africa-wide free-trade area.
An economist at the Centre for Public Integrity (CIP) argues that Mozambique is not in a position, in the short-to-medium term, to ratify the African Continental Free Trade Agreement (AfCFTA).
All SACU members need to ratify the AfCFTA before any of its members can start trading under it. ECOWAS States were facing the same problem.
Dangote Industries Limited has stated that its cement expansion plan and fertiliser investments will open new trade routes for the company and Nigeria under the trade deal.