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Jul 11, 2019 (Newsletter Issue 9/19)
ARIPO
Show Agreement

African Continental Free Trade Agreement in Force


On July 7, 2019, the operational phase of the African Continental Free Trade Area has been launched of Heads of State and Government of the African Union (AU).
The African Continental Free Trade Agreement (AfCFTA) will be governed by five operational instruments, i.e. the Rules of Origin; the online negotiating forum; the monitoring and elimination of non-tariff barriers; a digital payments system and the African Trade Observatory.

The AfCFTA agreement was adopted and opened for signature on March 21, 2018 and entered into force on May 30, 2019, thirty days after having received the twenty-second instrument of ratification on April 29, 2019, in conformity with legal provisions.

The AfCFTA will be one of the largest free trade areas since the formation of the World Trade Organisation, given Africa’s current population of 1.2 billion people, which is expected to grow to 2.5 billion by 2050, across all 55 member States of the African Union.

For more Information, please check here

Source: www.au.int