In a tumultuous year for the global trading landscape, negotiations for a huge Africa-wide free trade area — the Continental Free Trade Area, combining the economies of 55 states comprising 1.2 billion people in a market with a GDP of $2.19 trillion — are progressing rapidly.
Nineteen countries have now signed the agreement. For benefits to actually be realized, it must be ratified by at least 14 of the 26 member countries. Only Egypt has ratified it.
A paltry eight African have so far ratified the Tripartite Free Trade Area (TFTA) more than two years after it was launched in Egypt, raising fears of a failed continental effort to create an expanded trade barrier free market.
Africa has moved an inch closer to realising the dream of a continent with a free trade area despite persisting stumbling blocks, if the third African ministers of trade meeting held in Niger is to be scrutinised.
The roadmap of the Continental Free Trade Area (CFTA) was adopted by the African Union in 2012 and the decision to launch the negotiations in June 2015 at the 25th Summit of the African Union, with the aim of implementing it by the end of 2017.
The economist Ndongo Samba Sylla is a former advisor to the President of the Republic of Senegal. He explains why the Continental Free Trade Area is “suicide for African countries.”
The 2017 deadline has arrived and the Continental Free Trade Area, formally adopted in 2012, is not yet a reality. But it’s not that far off either.
The meeting will be adopting the modalities that will guide the negotiations in Tariff liberalization and Trade in Services liberalization
The Coordinator of the National Coalition "No to EPAs" in Senegal discusses two free trade projects in Africa: Economic Partnership Agreements and the Continental Free Trade Area.
Nigeria has commenced negotiations to facilitate the adoption of the Continental Free Trade Area after lagging behind among other trade blocs.
The interest of the private sector will be at the forefront in negotiations of the Continental Free Trade Area Agreement.
This agreement is in furtherance of the commitment made by African leaders in Addis Ababa in 2012 towards the establishment of the CFTA.
Regions Refocus has compiled five “Virtual Teach-ins” of footage from the workshop “Towards an Equitable and Transformative Continental Free Trade Area: A Heterodox and Feminist Approach.”
Signing this pact at the moment would expose young EAC countries to harsh economic conditions in post-Brexit Europe
Here are seven things you need to know about Africa’s Continental Free Trade Area — which could be up and running by the end of 2017.
Successful implementation of the CFTA will enable members to realize their potential to expand and accelerate the dynamism of intra-African trade
The Continental Free Trade Area offers African producers and investors an unique opportunity to benefit from this important market.
The Common Market for Eastern and Southern Africa (COMESA) Council of Ministers has appreciated the progress made so far in the negotiating process that include finalising the outstanding work in Phase 1 of the Tripartite Free Trade Area Agreement (TFTA).
New Delhi to explore potential trade pacts with individual countries.
Formal negotiations are taking place among the 54 member States of the African Union to create a free-trade zone on the continent by 2017.