Page 29 - Afcfta News Today

The Federal Government, in collaboration with Pan-African Manufacturers Association (PAMA), has announced plans to boost intra-Africa trade currently at 13 per cent, noting that with African Continental Free Trade Agreement...

Boosting intra-Africa trade is critical to achieving the agreement’s goals, including job creation, development and poverty alleviation.

One year after the implementation of the African Continental Free Trade Area Agreement (AfCFTA), which came into force on January 1, 2021, Nigeria continues to lag behind in making the trade agreement operational owing to structural challenges, Coronavirus pandemic and lack of consensus on trade protocols and strategy among stakeholders.

Africa's free trade area started a year ago amid much fanfare. But its impact has been low amid the coronavirus pandemic and an economic downturn on the continent.

The Federal Government says it is working on relevant measures to improve access to foreign exchange (FX) for the importation of raw materials and machines, which could not be sourced locally.

Intra-African trade routes may be facing a historic blockage as China expands its domineering influnce in the region, touted as the most commercially dependent across the globe.

The United Nations Conference on Trade and Development (UNCTAD) has revealed that Africa’s current untapped export potential amounts to $21.9 billion, equivalent to 43 per cent of intra-African exports.

This report provides a snapshot of the US Executive Branch priorities via daily schedules and the prior day's press releases.

Continent must leverage trade pact to reduce poverty, cut inequality, and foster inclusive development.

The potential of AfCFTA is huge. It nourishes a market of over a billion people. But the enormous advantage could be eroded if businesses, especially of the Micro, Small and Medium Enterprises...