The Point | 30 September 2022
AfCFTA initiative on guided trade set for launching
By: Pa Modou Cham
Africa Continental Free Trade Area (AfCFTA) is set to launch the AfCFTA Initiative on Guided Trade, slated on the sidelines of the 10th AfCFTA Meeting of the Council of Ministers Responsible for Trade, on 7 October 2022 in Accra, Ghana.
The Ministerial Directive of the AfCFTA 7th Meeting of the Council of Ministers Responsible for Trade provided a legal basis for the 29 countries that had submitted their tariff schedules in accordance with the agreed modalities to trade preferentially amongst themselves.
According to the secretariat, the overall objective of the launch event is to showcase that the AfCFTA is truly operational; African businesses can take advantage of it to trade under the liberalised preferences; demonstrate the processes through which the AfCFTA can be utilised; ready to support the Member States and the private sector in the implementation of the Agreement.
The flagging-off ceremony will be a historic step and an instrumental tool in generating meaningful trade on the African continent. The main message being sent to Africa and the rest of the world through the launch event is that it is now possible to trade using AfCFTA procedures.
Heads of State and Government, Ministers Responsible for Trade, the Diplomatic Corps, Leaders of Financial Institutions, Government Officials, Heads of Businesses and the Media are expected to grace the occasion.