The African Continental Free Trade Agreement (AFCFTA): A Boost to Nigerian Commerce?
7 Pages Posted: 30 Mar 2021
Date Written: January 29, 2021
In recent times, there have been more intra-African trade, socio-economic activities, and this time with fewer modalities/complexities. This is because The African Continental Free Trade Agreement (The AFCFTA) has come to the rescue hence creating a single market for freedom of movement of people/goods between African Countries. Nigeria's ratification of the Agreement stands to open a window of commercial opportunities for Nigerian Technological, energy, and industrial sectors by allowing a free flow of technological and industrial innovations, ideas, and manpower from Nigeria to other African Countries; thereby allowing access into a unified new market. The agreement is also a starting point for more detailed negotiations on trade in goods and services and other trade-related issues including competition, investment, and intellectual property. This paper seeks to examine the strengths and weaknesses of the African Continental Free Trade Agreement and how it can boost Nigerian commerce.
Keywords: Commercial law, AFCFTA, FREE TRADE, INTERNATIONAL LAW, NIGERIAN ECONOMY, TRADE AGREEMENT
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