African countries began officially trading under a new continent-wide free trade area, after months of delays caused by the global coronavirus pandemic.
Deal will ‘vitalise cooperation between our two countries and strengthen China-Africa economic ties’, head of African affairs at Chinese foreign ministry says.
Friday marked the start of trade for South African firms under two new trade agreements, the trade and industry and competition department (dtic) said.
Taiwan’s Chinese International Economic Cooperation Association encouraged Taiwanese companies to take advantage of free trade deals in Africa.
The sharp decline in manufactured goods trade and the growing food deficit over the past 25 years call for the African Union to be more modest in its ambitions to become “the next world manufacturing center”, far from the free trade illusion of the AfCFTA.
The AfCFTA requires strong infrastructure linkage across the African continent, an area where China can reach out to help.
The Chartered Institute of Arbitrators (CIArb) said no nation had met the requirements for the implementation of the African Continental Free Trade Agreement (AfCFTA), despite the political will to get the pact ratified in good time.
EAC’s tariff offer now brings the number of countries to 40 that are ready to join the AfCFTA on January 1, when trading under the agreement starts.
Customs officials from around Africa gave a nod to the adoption of continental guidelines to facilitate the free flow of cross-border trade.
Trade relations are likely to be at the heart of the delayed EU-Africa ‘strategic partnership’, but only if long-standing tensions can be resolved.
China will provide ‘cash assistance and capacity-building training’ for the African Continental Free-Trade Area, which spans 55 nations with a combined economy of US$3.4 trillion and 1.3 billion consumers, Chinese Foreign Minister says.
The Nigerian government ratified the country’s membership of the African Continental Free Trade Area Agreement.
The AfCFTA Secretariat is at advances stages of concluding phase one of the agreement which deals with the trading of goods and services, said the Secretary General.
African Union Ministers of Trade held their twelfth meeting, undertaken virtually, which was focused on concluding essential elements that remain to be agreed in the AfCFTA talks.
Nigeria has negotiated and almost concluded the rules of origin to pave way for Nigeria’s ratification of the African Continental Free Trade Agreement (AfCFTA).
The African Union Commission called for addressing non-tariff barriers in order to realize the major aspirations of the African Continental Free Trade Area (AfCFTA) Agreement.
The digital trade, e-commerce talks that were to have been part of phase 3 will now take place alongside phase 2 negotiations
Nigeria is currently in the process of ensuring the ratification of the African Continental Free Trade Area (AfCFTA) agreement, the minister of trade, Niyi Adebayo, said.
Underscoring India’s commitment towards growth in relations with Africa, New Delhi said the country’s businesses could benefit from the African Continental Free Trade Agreement that was gathering pace.
The AfCFTA will offer a huge opportunity for UAE investors who will be able to do business on a single set of trade and investment rules across the African continent.