The coronavirus outbreak is unlikely to scupper a July 1 target for the first commerce under the African Continental Free Trade Area agreement (AfCFTA), even if meetings to iron out details are being cancelled, said the zone’s most senior official. Cross-border travel bans by some governments, as well as restrictions imposed by companies on their employees, have led to conferences being cancelled. If it wasn’t for the virus and the ensuing travel restrictions, discussions around trade concessions and rules of origin may have been further along and could have been concluded by May. That’s when SA is scheduled to host an extraordinary African Union (AU) summit to finalise the modalities of the agreement. Legally, the agreement is already in force, but to make the July 1 deadline for the start of trade in goods and services under the new tariff rules, these details need to be rubber-stamped before the May summit as part of phase one of the process.
SOURCE: BUSINESS DAY LIVE
More Stories
A Great Recognition for the Work of Female Peace Builders in Cameroon
Could An Online Gathering Solve South Africa’s Putin Problem?
Calls For African Countries to Create Champions in Key Sectors
Times Higher Education Impact Ranks University of Johannesburg as on Track to Reach SDGs
Ghana’s Appetite for Hand-me-downs Ends Up in Crucial Waterways
Lilongwe is Taking a Closer Look at Who is Granted Asylum
Tanzania and Australia Forge Closer Ties in the Mining and Energy Industries
Kenyans Bemoan Plans to Raise Taxes
Building a Dynamic Ecosystem of Innovative Entrepreneurs and Startups in Libya
What Happened to Cause Musicians to Leave Ethiopia?
Rukky Ladoja & Building a Responsible Nigerian Fashion Brand
How to Write About Africa: Collected Works’ Shows Binyavanga Wainaina’s Legacy