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ATF (Namibian Agricultual Trade Forum)

CFTA - Continental Free Trade Area to be launched in March 2018!

Objectives of the CFTA

• Create a single continental market for goods and services, with free movement of business persons and investments, and thus pave the way for accelerating the establishment of the Continental Customs Union and the African customs union.
• Expand intra African trade through better harmonization and coordination of trade liberalization and facilitation regimes and instruments across RECs and across Africa in general.
• Resolve the challenges of multiple and overlapping memberships and expedite the regional and continental integration processes.
• Enhance competitiveness at the industry and enterprise level through exploiting opportunities for scale production, continental market access and better reallocation of resources.

Background
The 18th Ordinary Session of the Assembly of Heads of State and Government of the African Union, held in Addis Ababa, Ethiopia in January 2012, adopted a decision to establish a Continental Free Trade Area (CFTA) by an indicative date of 2017. The Summit also endorsed the Action Plan on Boosting Intra-Africa Trade (BIAT) which identifies seven clusters: trade policy, trade facilitation, productive capacity, trade related infrastructure, trade finance, trade information, and factor market integration. The CFTA will bring together fifty-four African countries with a combined population of more than one billion people and a combined gross domestic product of more than US $3.4 trillion.

Negotiations
Negotiations for the CFTA are expected to in June 2015 and the CFTA should be launched by an indicative date of 2017. The main objectives of the CFTA are to create a single continental market for goods and services, with free movement of business persons and investments, and thus pave the way for accelerating the establishment of the Customs Union. It will also expand intra-African trade through better harmonization and coordination of trade liberalization and facilitation and instruments across the RECs and across Africa in general. The CFTA is also expected to enhance competitiveness at the industry and enterprise level through exploitation of opportunities for scale production, continental market access and better reallocation of resources. The establishment of the CFTA and the implementation of the Action Plan on Boosting Intra-African Trade (BIAT) provide a comprehensive framework to pursue a developmental regionalism strategy. The former is conceived as a time bound project, whereas BIAT is continuous with concrete targets to double intra-African trade flows from January 2012 and January 2022.

CFTA leaders and negotiators heading to Kigali

The leaders of Africa’s 55 countries will make history on March the 21st, when they come together in Kigali, Rwanda, to sign an agreement that will launch the African Continental Free Trade Area (the AfCFTA). The AfCFTA will make the continent the largest free trade area created since the formation of the World Trade Organisation.

The launch will take place at an Extraordinary Meeting of the Heads of State of the African Union convened by President Paul Kagame of Rwanda, the new Chairperson of the AU who said of the AfCFTA: "This is a historic pact which has been nearly 40 years in the making, and it represents a major advance for African integration and unity."

H.E. Moussa Faki, the Chairperson of the African Union Commission says the African Continental Free Trade Area will also strengthen Africa’s position in global trade: “AfCFTA will make Africa one of the largest economies in the world and enhance its capacity to interact on equal terms with other international economic blocs.”



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