Nigeria will sign an Africa free trade agreement at the coming African union summit, according to a statement posted on the Nigeria presidency’s Twitter feed.
Only one set of trade deals will need to be negotiated with the AfCFTA—as opposed to fifty-five intricately-crafted trade deals with each small African economy.
The European Union Commission fully supports the African Continental Free Trade Agreement (AfCFTA) and is proposing a 40 billion Euro package to attract investments that would create at least 10 million jobs in Africa.
“Africa needs not only a trade policy, but also a continental manufacturing agenda,” Buhari said. “Our vision for intra-African trade is for the free movement of made-in-Africa goods."
Rules of origin must be simple, transparent, business-friendly and predictable to work, said UNCTAD.
Africa is moving towards a more integrated, rules-based trade regime, but this is unlikely to transform the continent’s economic prospects
Nigeria’s failure to sign the Africa Continental Free Trade Area (AfCFTA) agreement may hold the continent back on its economic prosperity drive, the African Development Bank (AfDB) has said.
In 2018, SA and other African nations signed the CFTA agreement, which aims to create a single continental market for goods and services
The African Continental Free Trade Area Agreement is one of the most ambitious projects of the African Union, and it is now, miraculously, in force. But that’s just the first step. The next phase will be crucial negotiations about the operational framework.
The African Continental Free Trade Area (ACFTA) will be launched on 7 July 2019 in Niamey, Niger, by the Heads of State and Government at an extraordinary summit of the African Union.
Rather than making drastic structural changes to the systems of production within Africa, the AfCFTA may intensify the ‘race to the bottom’ between working classes on the continent.
China is planning to capitalize on AfCFTA to connect African and Chinese markets to promote the free movement of goods, persons, capital and technologies.
African Continental Free Trade Area expected to pave way for Turkish businesses in to grow on continent
The African Continental Free Trade Agreement (AfCFTA) became a binding international legal instrument, even though critical parts of the agreement are yet to be completed.
The African Continental Free Trade Agreement (AfCFTA) is very important for Chinese companies in Africa, particularly in Egypt, an Egyptian economic expert said.
Nigeria will sign the Africa Continental Free Trade Agreement as soon as President Muhammadu Buhari approves an impact-assessment report he asked for, the country’s trade minister said.
The negotiations on key substantive issues related to trade in goods and trade in services that are still to be completed.
The African Union (AU) stressed the need to boost African countries’ capacity on both Investor-State Dispute Settlement (ISDS) and state-to-state dispute, as the African Continental Free Trade Area edges closer to entry into force.
Negotiators still need to agree on market access offers, rules of origin and specific commitments in trade in services.
Supporting instruments to facilitate the launch of the operational phase of the AfCFTA need to be finalised, including rules of origin, schedules of tariff concessions on trade in goods.