DECISION TO ESTABLISH AfCFTA
at the African Union’s 18th Session in Addis Ababa
AU adopts Action Plan to oost intra-African trade
2012 target for removal of trade barriers
Signing of the Protocol to the Treaty Establishing the African Economic Community
relating to the Free Movement of Persons, Right to Residence and Right to Establishment.
The Gambia becomes the 22nd state to ratify AfCFTA
Only one year and ten days after its signing, the threshold of 22 countries required for the entry into force of the agreement, was reached. The timelines of this ratification process are unprecedented in the AU history.
AfCFTA AGREEMENT ENTERED INTO FORCE
30 days after the 22-country ratification threshold
NIGERIA, ONLY COUNTRY RELUCTANT TO SIGN THE TREATY TO PROTECT ITS INDUSTRY FROM LOW-INCOME GOODS
Nigeria has done much to encourage local manufacturing and expansion of agriculture in the country, concerned that low-priced goods will flood the market.
Finally signed the agreement on 7 July 2019 – big boost for AfCFTA as they represent the biggest economy
AfCFTA OPERTATIONAL PHASE LAUNCHED
during the 12th Extraordinary Session of the Assembly of the African Union in Niamey, Niger
Mr. Wamkele Mene APPOINTED FIRST SECRETARY GENERAL AND SECRETARIAT TO BE HOSTED BY GHANA PHASE LAUNCH
PHASE 1 NEGOTIATIONS: TRADE IN GOODS, SERVICES AND DISPUTE SETTLEMENT – LEGAL INSTRUMENTS CAME INTO FORCE BUT NOT CONCLUDED
PHASE 1 Negotiations are far from over!
Preparatory Meetings for Commencement of Trading under the AfCFTA
AU Head of State and Government urged Member States to prepare national strategies for utilizing and benefiting from the AfCFTA
VIRTUAL AU SUMMIT: Approved the start of AfCfta
AfCFTA OFFICIAL STARTING DATE
Agreement comes into force before negotiations have been concluded!
For political reasons - creates momentum and may sustain momentum
