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Economic news for Saturday 23 January 2021
Source: Fuad Dodoo, Contributor
01/23/2021
Welcome, Secretary General of AfCFTA
Exports of goods from non-African third countries to African countries will not benefit from the preferential treatment stipulated in the African Continental Free Trade Area (AfCFTA) trade pact.
This is what the secretary general of the AfCFTA Secretariat, Wamkele Mene, says.
Addressing the issue of transshipment during the operation of the AfCFTA, Mr. Mene noted that although goods from non-African countries are welcome on the continent, these goods or imports will not benefit from the incentives that bind the trade agreement. between the members of the AfCFTA.
“We are not saying that there should not be goods from other countries, what we are saying is that the goods which should benefit from the preferential treatment of the AfCFTA should be goods which are legitimately entitled to the preferential treatment of AfCFTA, ”he said.
“There will still be goods coming from other parts of the world, but they will not benefit from the preferential treatment that we have agreed to give us as members of the AfCFTA,” he added.
Speaking further, Mr. Mene revealed that no provision or protocol has yet been taken to minimize the importation of goods from non-African countries during the implementation of the AfCFTA.
However, he believes that, despite the absence of such a provision, close collaboration between customs officials of member countries will allow the control of transshipment of goods on the continent during the operation of the AfCFTA.
“It will depend on our strong application and implementation of our rules of origin regime and other necessary protocols. We will work with our customs officers to improve their ability to control transhipments, ”he said.
Trade in goods between member countries in accordance with AfCFTA rules should result in zero tariffs with no limit on the amount of goods that can be exported or imported between member countries.
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