AfCFTA is a proposed trade agreement involving all 54 African Union member states. The continental agreement seeks to enhance trade liberalisation, deregulate services and remove tariff and non-tariff barriers. The negotiations were launched in June 2015 and the deal was signed in March 2018 by 44 nations.
The working groups are expected to develop strategic programmes that will help the government domestically address key constraints facing intra-African trade to allow the country to harness the full benefits of the AfCFTA.
Kenya’s proposed free trade deal with the US has put it in the crosshairs as critics say the planned bilateral agreement would be a breach of regional and continental trade protocols.
South Africa will in May hold an extraordinary summit of the African Union to finalise a continental free trade agreement.
President Donald Trump has announced the United States intends to initiate trade agreement negotiations with Kenya.
Pakistan is already in touch SACU, ECOWAS and EAC to negotiate trade agreements and also plans to take advantage of the opportunities that exists under the African Continental Free Trade Agreement.
Resolving these issues is crucial for EAC’s approach to opportunities from the African Continental Free Trade Agreement as a bloc.
Minister of Industry, Trade and Investment, Adeniyi Adebayo, has warned that Nigeria will not tolerate smuggling and importation of substandard products.
It is more reasonable to concentrate on building regions and industrialising before attempting the African free trade area.
The GCC states are drawn to the African states’ promise, especially as the new continental trade deal will facilitate opportunities and unlock growth in parts of Africa that were previously difficult to access.
The United States and the African Union share a mutual desire to pursue deeper trade and investment ties, eventually leading to a continental trade partnership between the United States and Africa.
The African Union Commission’s high representative on Cotonou has warned that keeping the ACP framework will make it harder for the EU to agree on a ‘continent-to-continent instrument’.
This study identifies issues and challenges of the African Continental Free Trade Area (AfCFTA), with a focus on East Africa.
Member states are currently engaged in negotiations on issues that are essential for trade in services under the AfCFTA to begin.
In Burkina Faso, many businessmen are concerned about the challenges of implementing the African Continental Free Trade Area (AfCFTA), a vast space of more than a billion people.
India is increasing its engagement with Africa. Since 2014, there have been 32 outgoing high-level visits from India to Africa.
The agreement will have positive spin-offs for the SA beef industry, said one of South Africa’s leading beef producers.
Should AfCFTA member states opt for an ISDS mechanism, a reformed mechanism should be expected.
With the July 1, 2020 launch of the African Continental Free Trade Area approaching, 90% of outstanding issues on the rules of origin and tariff guidelines have been resolved.
The TFTA will also be a building bloc for the African Continental Free Trade Area, COMESA official said.
This policy brief focuses on the expected economic impacts of tariff liberalization under the AfCFTA.