List Of Trade Agreements In Africa

(b) the elimination of quantitative and administrative restrictions on trade between Member States; The African Continental Free Trade Area (AfCFTA) [9] is a free trade area that has 28 countries as of 2018. [1] [10] [11] [12] It was created by the African Continental Free Trade Agreement between 54 of the 55 nations of the African Union. [13] The free trade area is the largest in the world in terms of the number of participating countries since the creation of the World Trade Organization. [14] Accra, Ghana, is the secretariat of the AFCFTA and was mandated in Accra on August 18, 2020 by the President of Ghana, His Excellency Nana Addo Dankwa Akuffo Addo Addo, in Accra and handed over to the AU. The Kigali Summit identified areas of convergence in the areas of trade protocols, dispute settlement procedures, customs cooperation, trade facilitation and rules of origin. This was part of Phase I of the agreement, which includes the liberalisation of goods and services. An agreement was also reached to reduce tariffs to 90% of all goods. Each nation may exclude 3% of the goods from this Agreement. [25] The following institutions have been established to facilitate the implementation of the free trade area. As a result of the Phase II negotiations, there is an possibility to create more committees on minutes. [38] · Official Journal of the Republic of Agneagne. Bangui, 1979 – Report on the Treatment of Medical Devices in Regional Trade Agreements (ASAP) The SAfCFTA Secretariat will be responsible for coordinating the implementation of the Agreement and will be an autonomous body within the AU system. Although it has an independent legal personality, it works closely with the AU Commission and receives its budget from the AU.

The Council of Ministers responsible for trade decides on the location of the head office, structure, role and competences. [35] The Assembly of Heads of State and Government of the African Union is the supreme decision-making body. It will likely meet at AU summits. [39] The Council of Ministers responsible for trade oversees strategic trade policy and ensures the effective implementation and enforcement of the AfCFTA Agreement. [39] Eritrea was not part of the original agreement due to a persistent state of war, but the 2018 peace agreement between Ethiopia and Eritrea ended the conflict and ended the barrier that hinders Eritrea`s participation in the free trade agreement. [10] [30] [45] [46] [47] The unrecenized state of Somaliland did not participate in the discussions on the creation of the agreement.