As AfCFTA Takes Off… : vimarsana.com
As AfCFTA Takes Off…
On January 1, 2021, the African Continental Free Trade Area officially took off. It is the culmination of interminable years of political momentum towards Africa-wide free trade. Nosa James-Igbinadolor looks at the place of Nigeria within the new free trade area
The African Continental Free Trade Area (AfCFTA), has finally taken off across the continent. Originally scheduled to kick off on 1 July last year, the coronavirus crisis, and other factors stalled the proposed take-off.
It was in March 2018 that African heads of state and government held an extraordinary summit in Kigali, Rwanda and agreed to establish the Free Trade Area.
The agreement to create the AfCFTA went side by side with the Kigali Declaration, which called for the âoperationalisationâ of the AfCFTA and for the start of the more ambitious Phase II talks, which would cover competition policy, intellectual property and investment. A protocol on the free movement of people was also signed.
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