African Continental Free Trade Area Completes First Month of Trading

February 5, 2021 IISD 0 Comments

The African Continental Free Trade Area (AfCFTA) has wrapped up its first month of trading, having kicked off at the start of the new year. The nascent and wide-reaching trade area will be watched closely given its scope, size, and potential development impacts, along with what it means for existing regional communities and trading ties with other partners.

While the agreement and Phase 1 protocols were adopted in early 2018, the process of securing the necessary signatures and ratifications for entry into force continued through 2019. To date, 35 of the African Union’s (AU) 55 member States have ratified the agreement, meaning that the AfCFTA is in effect for those countries but not for the others. Fifty-four AU member States have signed the AfCFTA, with the exception of Eritrea. Read More.

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