13 African countries urged to ratify historic trade deal
17/11/2021 49
Most viewed articles
Countries yet to ratify the African Continental Free Trade Agreement (AfCFTA) have been urged to do so.
Speaking virtually to Ugandan government officials on Wednesday, AfCFTA Secretary General Wamkele Mene said that so far 41 of 54 signatories to the pact had ratified the agreement, with talks still ongoing to get the rest on board. His address was part of Uganda’s national dialogue on the AfCFTA.
The agreement kicked off in January.
Kenya, Uganda, Rwanda, Burundi and recently Tanzania have ratified the agreement, potentially opening their markets and committing to reduce barriers to African trade and investment.
“Regarding outstanding ratifications, the Secretariat continues to engage the countries that have not yet ratified it to do so as a matter of urgency, subject to their domestic legal requirements. We do however recognise that the issue of ratification is a sensitive matter that is domestic, legal and political in nature,” Mene said.
He said the implementation of the trade agreement is challenged by lack of clarity on issues such as rules of origin, tariff schedules and services sector commitments and partner states negotiations.
Source: The East African
- Viet Nam updates preparations for negotiations to join Information Technology Agreement expansion
- How digital payments are reshaping a fast-growing digital banking market
- Green production zones to boost standing of Vietnamese farm products
- IMF to closely monitor China’s economic growth amid trade tensions
- Export growth key to Viet Nam’s double-digit economic expansion