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 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 Belt and Road Initiative provides a framework for Chinese investment to enhance existing infrastructure as well as build new production sites and trade routes to better connect China with the rest of the world.
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.
India Government is working on a comprehensive strategy to boost India-Africa bilateral trade.
How the Global South is affected by the current trade turmoil – and old patterns of power.
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).
China has been receiving flak for its conditional investments and loans that are resulting in land and resource grabbing in Asia and Africa.
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.
India and Mauritius discussed initiatives to strengthen bilateral ties including the early finalisation of the Comprehensive Economic Cooperation Partnership Agreement (CEPCA).
The US-Africa Strategy seeks to re-position the US and bring it to par with China and Russia.
African countries, backed by the EU, want internal and external free trade, which will wreck local agriculture, and rural economies and societies.
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.
Trade unions from Africa and Europe have followed with grave concern the negotiation and conclusion of Economic Partnership Agreements (EPAs) between the EU and regional groupings in Africa.