INSIGHTS: IMPORTS AND EXPORTS
African Continental Free Trade Area to be ‘implemented by January’
Aim is to create single market for goods and services and customs union with free movement of capital, business travellers
The African Continental Free Trade Area (AfCFTA) agreement, which was originally supposed to be effective from July 1 2020 but was delayed as a result of the Covid-19 pandemic, will be implemented by January 1 2021, according to the secretary-general of the AfCFTA secretariat, Wamkele Mene.
He says AfCFTA is the only mechanism at the continent’s disposal to boost its economic recovery after the devastation caused by the pandemic and is an opportunity to establish robust supply and value chains for Africa as well as diversify its productive capacity, particularly from its current overreliance on the export of primary commodities...
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