Entries by Hanin Abdulrazzaq

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Trade Pact Could Boost Africa’s Income by As Much As $450 Billion – World Bank

The African Continental Free Trade Area represents a major opportunity for countries to boost growth, reduce poverty, broaden economic inclusion and help “expand opportunities for all Africans”, hailed a World Bank official, which if fully implemented, could boost regional income by around $450 billion. By making African countries more competitive and lifting some 68 million […]

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ECA report urges African countries to harmonize trade and transport regulations in the fight against COVID-19

The Regional Integration and Trade Division (RITD) at ECA has released a new report entitled “Facilitating Cross-Border Trade through a Coordinated African Response to COVID-19”. The report provides a critical assessment of existing border restrictions and regulations, with a view to providing guidance on how to strike an appropriate balance between curbing the long term spread of […]

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Eritrea defends decision to sit out Africa free trade pact

Eritrea on Tuesday explained why it has not signed up for the African Continental Free Trade Area, AfCFTA. The Horn of Africa nation remains the only country yet to sign the agreement let alone deposit instruments of ratification as of July 2020. According to Information Minister, the country’s posture is ingrained in the government of […]

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Ghana positions to become auto hub in AfCFTA era

Finance Minister Ken Ofori-Atta has announced the planned establishment of an Automobile Industry Development Centre to coordinate licensing of vehicle assemblers and manufacturers, and monitor their compliance with industry regulations. With the expected implementation of the African Continental Free Trade Area (AfCFTA) once the COVID-19 pandemic is brought under control, Mr. Ofori-Atta said the establishment […]

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UNECA chief calls for boosting intra-Africa trade to augment share in global trade

Executive Secretary of the United Nations Economic Commission for Africa (ECA), Vera Songwe, on Thursday emphasized the need to boost intra-Africa trade in order to augment Africa’s share in the global trading platform. The ECA chief made the urgent call during a virtual meeting on African perspectives on the World Trade Organization (WTO) and prospects […]

AFCFTA: Action Committee Begins Sensitization Programme for MDAs, Industry Associations.

The National Action Committee on African Continental Free Trade Agreement (AFCFTA) has embarked on sensitization programme of Ministries, Departments and Agencies, including industry associations to explain the implications of the AFCFTA agreements and their roles in the implementation. The Senior Special Assistant to the President on Public Sector who also doubles as the Executive Secretary […]

AfCFTA Implementation Pushed to January

The executive secretary of the African Continental Free Trade Area (AfCFTA), has proposed to African heads of state that trading under this framework starts in January 2020, according to an official. Trading under the AfCFTA agreement was due to commence on July 1, 2020, but as a result of the Covid-19 global pandemic, this date […]

Afreximbank, ITC partner to boost intra-African trade.

Ahead of the operational launch of the African Continental Free Trade Area (AfCFTA) agreement, Afreximbank has partnered with the International Trade Centre (ITC) to train small-business owners and young entrepreneurs on the continent on boosting intra-African trade. The training programme tagged, ‘How to Export within the AfCFTA’, is being launched as the new free-trade area […]

AfCFTA will push on even if virus second-wave hits, says Wamkele Mene, Secretary General (AfCFTA)

AfCFTA secretariat will develop necessary public-health protocols to implement the deal and revive economic growth in Africa An Africa free-trade agreement is unlikely to face any further delays even if a second wave of coronavirus infections hits the region, according to the deal’s top official. “If the pandemic continues into 2021, we will develop the […]