AfCFTA: Ghana, Kenya, 6 other African countries to begin trading in a few weeks
Ghana, Kenya, Egypt, Cameroon and four other countries have agreed to begin actual trading among themselves under the continent-wide African Continental Free Trade Agreement (AfCFTA).
Actual trading among the eight countries is expected to begin in a few weeks time.
“So far, 54 African countries have signed the AfCFTA Agreement. 46 have submitted their tariff offers, including Customs Union. Also, 29 tariff offers have been technically verified for trading. 87.7% of tariff lines have been agreed upon under the Rules of Origin negotiations and phase two negotiations on Investment, Intellectual Property Rights, Competition Policy, Women and Youth in Trade and Digital Trade are ongoing,” said the Deputy Minister of Trade and Industry, Herbert Krapa.
“The AfCFTA Secretariat and its young dynamic Secretary-General [Wamkele Mene] deserves to be congratulated for leading what I believe is a successful implementation in the making”, he added.
The Deputy Minister made the assertion speaking at the Export Trading Company Seminar by the Africa Export and Import Bank.
“Actual trading is starting between Cameroon, Egypt, Kenya, Mauritius, Rwanda, Tanzania, Tunisia and Ghana. In the coming weeks, the dream of our forebears will be off the ground,” he noted.
Mr. Krapa also explained that the establishment of export trading companies for the continent is timely for the transformation agenda.
“Setting up Export Trading Companies across Africa could not have come at a better time. AfCFTA is about exports and we must commend Afrexim Bank for initiating a strategy to facilitate the setting up of these Export Trading Companies,” he quipped.
Meanwhile, the AfCFTA Secretariat has also launched the AfCFTA Initiative on Guided Trade to translate all the progress made on paper into action.
