The protocols necessary for the implementation of key measures to expedite and enhance seamless trade among African nations under the African Continental Free Trade Area (AfCFTA) are set to be put in place.
These initiatives comprises the establishment of investment protocols safeguarding both foreign and local investors, the protection of intellectual property rights, and crucial protocols addressing women and youth in trade.
Notably, the protocols on digital trade, set to be finalised this month, aim to leverage Africa’s digital economy for inclusive growth, especially benefiting the innovative youth requiring regulatory support in the African digital market.
Wamkele Mene , Secretary General of AfCFTA is quoted by GhanaWebb, saying the impending realisation of the AfCFTA e-Tariff Book is set to be finalised at the end of this month. This will empower the private sector and economic operators across the continent by providing clarity on applied tariffs for export products and rules of origin.
The e-Tariff Book is positioned as a key tool, simplifying complex trade regulations and enhancing accessibility for traders continent-wide.
Additionally, the introduction of the Online Non-Tariff Trade Barriers notification mechanism represents a a major milestone for the continental body. This platform enables traders to report and address trade obstacles, ensuring a smoother trading experience for businesses, including those in the informal sectors.
A number of African countries have already traded under this trade regime. Kenya was in the initial pilot phase, including Cameroon, Egypt, Ghana, Mauritius, Rwanda, Tanzania and Tunisia.
Last wek, President Cyril Ramaphosa inaugurated South Africa’s first trade shipments under the AfCFTA at the Port of Durban in KwaZulu-Natal at the 13th AfCFTA Council of Ministers meeting.
South Africa is the first among the four Southern African Customs Union (SACU) countries to launch its preferential trade exports under the AfCFTA’s second Guided Trade Initiative.
Kenya has so far exported tea to Ghana under the AfCFTA treaty during the pilot face that saw several countries selected for trial phase from different economic blocs under the initiative.
The preferential trading under the AfCFTA framework aims to unlock the movement of goods and services in the continent.
gandae@businessdayafrica.org