Analysis of implementation of continental free trade area in Africa
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In January 2012, the African Heads of States and Governments agreed to establish the regional free trade area (African Continental Free Trade Area-ACFTA) with the main purpose of enhancing the African economic standing by eliminating tariff on intra-African trade, in order to create much needed jobs and wealth for a young continent with a median age of 19.5 years and a population of 1.27 billion people. This integration remains one of the core elements of the African economic power strategies and the most pivotal transformation of regional development underway in Africa. This paper attempts to...
In January 2012, the African Heads of States and Governments agreed to establish the regional free trade area (African Continental Free Trade Area-ACFTA) with the main purpose of enhancing the African economic standing by eliminating tariff on intra-African trade, in order to create much needed jobs and wealth for a young continent with a median age of 19.5 years and a population of 1.27 billion people. This integration remains one of the core elements of the African economic power strategies and the most pivotal transformation of regional development underway in Africa. This paper attempts to explore largely the implications, opportunities and challenges arising with the establishment of the ACFTA project, its achievement, and implementation by the African Union Members.
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