Assessing regional integration in Africa IX: next steps for the African Continental Free Trade Area

The African Continental Free Trade Area (AfCFTA) is the largest trade agreement since the WTO, signed by 52 African countries. To achieve its goals of changing lives, reducing poverty, and contributing to economic development, it must be effectively operationalized and supported with complementary measures. Phase II negotiations on intellectual property rights, investment, and competition policy are scheduled to commence in late 2019.

Format: Paperback / softback
Length: 288 pages
Publication date: 19 February 2021
Publisher: United Nations

The African Continental Free Trade Area (AfCFTA), a historic agreement signed by 52 African countries, stands as the largest trade agreement since the World Trade Organization's (WTO) formation. Recognizing that mere negotiation, conclusion, and ratification are insufficient, this report emphasizes the need for the AfCFTA to have a transformative impact on lives, alleviate poverty, and drive economic development. To achieve this, the AfCFTA must be effectively operationalized, supported by complementary measures that harness its potential as a catalyst for economic growth. Among the critical next steps is the commencement of phase II negotiations in late 2019, focusing on intellectual property rights, investment, and competition policy.

The AfCFTA represents a significant opportunity for African countries to enhance trade relations, promote economic integration, and foster sustainable development. By removing tariffs, reducing non-tariff barriers, and promoting cross-border investments, the agreement aims to increase trade flows, attract foreign direct investment, and create job opportunities. Moreover, the AfCFTA emphasizes the importance of regional value chains, promoting intra-African trade and addressing the challenges of small and medium-sized enterprises (SMEs).

To maximize the benefits of the AfCFTA, it is crucial to address key challenges such as infrastructure development, regulatory harmonization, and skills training. Additionally, efforts should be made to promote inclusive growth, address gender inequality, and ensure environmental sustainability in trade practices.

In conclusion, the AfCFTA holds immense potential for transforming the economic landscape of Africa and promoting shared prosperity. By operationalizing the agreement effectively, supporting complementary measures, and addressing key challenges, African countries can unlock the full benefits of this historic trade agreement and pave the way for a more inclusive and sustainable future.

Dimension: 280 (mm)
ISBN-13: 9789211251371