Morocco Joins 23 Nations in Ratifying African Continental Free Trade Agreement

Pending its implementation on July 7 next, during a summit in Niamey of the African Union, the agreement was signed by 52 members of the Union out of 55, before being finally ratified by 24 members and notified to the continental organization.

According to Telquel, the implementation phase will, however, require the establishment of arbitration mechanisms, the definition of rules of origin of goods, or, to a certain extent, the elimination of obstacles related to corruption or poor infrastructure.

The agreement will allow the gradual elimination of customs duties between member states, the diversification of African economies and the industrialization of the continent. However, despite the presence of certain brakes on the development of intra-African trade, the AfCFTA could offer the continent the opportunity to set up a single platform in order to better negotiate trade agreements with the outside world.