The TFTA has 26 member states
Tripartite Free Trade negotiations are underway. Phase I agreement Annexures on trade in goods have been finalised incl.
Tripartite Free Trade negotiations are underway. Phase I agreement Annexures on trade in goods have been finalised incl.
- Customs Cooperation,
- Rules of Origin,
- Trade Remedies,
- Dispute Settlement Mechanism,
- Non-Tariff Barriers and
- Sanitary and Phytosanitary Measures.
- Trade in Services,
- Competition Policy and Consumer Protection,
- Investment, and
- Intellectual Property Rights.
In tariff negotiations Member States are not re-opening any existing tariff trade arrangements. Outstanding TFTA Rules of Origin are currently being developed as part of a built-in agenda. Over 60% of the product specific rules have been developed.
Negotiations are also underway. A planned single continental market for goods and services aiming at expanding intra-African trade through free trade and cooperation agreements.
The African Continental Free Trade Area seeks to achieve:
The African Continental Free Trade Area seeks to achieve:
- Sustainable economic development,
- job creation and
- integration of Africa into the global economy – taking advantage of economies of scale.
The focus is on export diversification and development of value chains.
A lot of value is to be derived from trade facilitation through lowering of costs and improved efficiency, transparency and predictability.
Elimination of non-tariff barriers, more harmonised standards and regulations and improved compliance are other benefits.
The target market for the AfCFTA is projected to increase by over a third by 2030, to 1.7 billion people.
35% or 600 million of the projected market will be middle class (ITC, 2018).
This should result in increased investment and higher consumer spending.
Members will have access to African raw material and input material for value addition.
The AfCFTA presents opportunities for the development of new industries.
Africa’s GDP is projected at between $4 and $5 trillion by 2030.
A lot of value is to be derived from trade facilitation through lowering of costs and improved efficiency, transparency and predictability.
Elimination of non-tariff barriers, more harmonised standards and regulations and improved compliance are other benefits.
The target market for the AfCFTA is projected to increase by over a third by 2030, to 1.7 billion people.
35% or 600 million of the projected market will be middle class (ITC, 2018).
This should result in increased investment and higher consumer spending.
Members will have access to African raw material and input material for value addition.
The AfCFTA presents opportunities for the development of new industries.
Africa’s GDP is projected at between $4 and $5 trillion by 2030.
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