A total of 44 African nations signed the landmark African Continental Free Trade agreement earlier this year, with only 12 out of the required 22 countries ratifying the accord, but policy makers say there is time enough – and practical solutions – to move the process ahead.
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African countries seeking to reduce the cost, time and complexity of interregional and international trade in goods will gather tomorrow for the First African Forum for National Trade Facilitation Committees in Addis Ababa, Ethiopia.
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By Andualem Sisay Gessesse – Kigali, Rwanda – It has been eight months since 44 African countries subscribed to advance free movement of people and goods within the continent by signing the African Union’s African Free Continental Trade Area Agreement (AfCFTA) agreement.
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By Vera Songwe and Mamadou Biteye – Africa is growing, but not fast enough. In order for more than 400 million Africans to rise out of poverty, continued economic growth across Africa’s 54 nations will have to increase an average of 7% annually or more. One strong engine for growth is trade.
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The African Continental Free Trade Agreement (AfCFTA) has huge potential to move Africa to dizzy heights of development on the platform of the African Union’s Agenda 2063, says Nigeria’s Industry, Trade and Investment Minister, Mr. Okechukwu E. Enelamah. Nigeria is yet to ratify the AfCFTA.
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By Omer Redi – The African Continental Free Trade Area (AfCFTA) is a unique and timely opportunity for the continent and offers more benefits than other trading arrangements with regions outside the continent, said Mr Andrew Mold, Acting Director of UN Economic Commission for Africa (ECA) in Eastern Africa.
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