African Continental Free Trade Area Agreement: The Euphoria, Pitfalls and Prospects

24 Pages Posted: 25 Jun 2020

Date Written: June 1, 2020

Abstract

The ratification of African Continental Free Trade Agreement (AfCFTA) climaxes African Union effort to foster intra-African Trade. AfCFTA is expected to foster socio-economic development and industrial competitiveness in Africa. AfCFTA will engender massive liberalization of intra-African trade in goods and services, making it easier for business to trade across borders and reduce the costs of trade. But there are fears that a successful implementation of the agreement in a continent that lacks capacity, industrial competitiveness and infrastructure will be fraught with challenges. The article examines the dynamics, and contends that the success of AfCFTA will be significantly dependent on a number of factors, namely the level of commitment exhibited by the Member States, availability of technical capacity and infrastructure, transparency and accountability of processes, and the manner infractions and complaints are addressed or redressed.

Note: “Reprinted from Journal of World Trade 53, no. 5 (2019): 871–894, with permission of Kluwer Law International.”

Suggested Citation

ajibo, collins chikodili, African Continental Free Trade Area Agreement: The Euphoria, Pitfalls and Prospects (June 1, 2020). ASEAN Journal of Legal Studies, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3615670

Collins chikodili Ajibo (Contact Author)

Faculty of Law, University of Nigeria ( email )

Department of Economics
Nigeria

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