Target for first trade under continent-wide pact is July 1. Tariffs, rules of origin and protocols for services are yet to be agreed on.
The country’s tariff income is at risk under the deal, which requires African member countries to lower or cut tariffs.
The recently-launched Africa Continental Free Trade Area Agreement faces climate change risks that could prevent the continent from gaining maximum trade benefits from the agreement.
Despite being a major market in West Africa, Nigerian manufacturers have kicked against the exclusion of Nigeria’s priority products from the sensitive and exclusive lists of the African Continental Free Trade Area agreement.
The FTA initiative should be seen in the context of the Trump administration’s determination to pursue bilateral deals to enhance reciprocity and American gains.
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.