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The most populous nation in Africa and the largest economy, Nigeria, Eritrea and Guinea-Bissau are the only African countries not yet to engage in the Continental Free Trade Union of the African Union (AFCFTA). Moussa Faki Mahamat, President of the Commission, did not make any commitment to the agreement signed in Kigali in March 2018. The U.S.A. The leader said the body projection was to have all the nations on board for the AfCFTA to come into effect in January 2019.
On the other hand, six African countries have ratified the plan. agreement while the vast majority of countries have only signed it. The six are Rwanda, Niger, Chad, Kenya, Ghana and Swaziland (eSwatini.)
Three others – Tanzania, Zambia and Botswana – have only signed the Kigali Declaration and have yet to sign l & # 39; agreement. AU
Back in Kigali, 44 of the 55 heads of state and government of the African Union adopted ALEFF at its 10th extraordinary session, under the leadership of the Nigerian President Mahamadou Issoufou.
Rwanda's President Paul Kagame also witnessed Kigali's statement as AU President and Chairman of the AU Commission
Nigeria's Refusal and the 39 South Africa's joining has raised issues. both were the economic powers of the continent.
South Africa subsequently signed the agreement, but Nigeria insisted that it was conducting broader consultations in the country before any concrete decision. President Buhari recently hinted that he would soon sign the agreement.
In July 2018, the status of AU member states adhered to the Agreement on the African Continental Free Trade Area #AcFTA . Help your country to sign and ratify by January 2019 so that the AfCFTA goes into effect for the #TheAfricaWeWant . pic.twitter.com/xdimTIWRPT
– Moussa Faki Mahamat (@AUC_MoussaFaki) July 31, 2018
Once in effect, the AfCFTA will be the largest commercial area in the world, will increase intra-African trade of 52% by 2022, remove tariffs on 90% of goods, liberalize services and tackle other barriers to intra-African trade, such as long delays at border crossings.
It will be one of the largest in the world, perhaps only behind the World Trade Organization ( WTO ).
The signing of the CCFTA by heads of government and / or their representatives is only one step in the pursuit of an ambitious dream level of trade.
Experts and observers say that the real work is yet to take off, all things being equal. The fact that, after all this time, some countries have decided to maintain ratification is not a setback, but speaks of the challenges that lie ahead.
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