Afcfta Agreement Text

Eritrea has not signed because of tensions with Ethiopia, but after the 2018 Eritrea-Ethiopia summit, the AU Commissioner for Trade and Industry expects Eritrea to sign the agreement. [93] Eritrea was not part of the original agreement because of the continuing state of war, but the 2018 peace agreement between Ethiopia and Eritrea ended the conflict and ended the barrier to Eritrea`s participation in the free trade agreement. [10] [30] [45] [46] [47] The unrecognized state of Somaliland was not involved in discussions on the creation of the agreement. At the Kigali Summit, areas of agreement were reached on trade protocols, dispute settlement procedures, customs cooperation, trade facilitation and rules of origin. This was part of Phase I of the agreement, which deals with the liberalisation of goods and services. There was also a consensus on reducing tariffs to 90% of all goods. Each nation can exclude 3% of the goods from this agreement. [25] Africa`s continental free trade area only came into force when 22 of the signatory countries ratified the agreement, which took place in April 2019, when The Gambia was the 22nd country to ratify it. [67] In August 2020, there are 54 signatories, of which at least 30 have ratified and 28 have tabled their ratification instruments. [69] [70] [71] The three countries that have ratified their ratifications but have not yet tabled are Cameroon, Angola and Somalia,[71] although Morocco is also ratified. [73] [74] The SAfCFTA secretariat is responsible for coordinating the implementation of the agreement and is an autonomous body within the AU system. Although it has an independent legal personality, it will work closely with the AU Commission and receive its AU budget.

The Council of Ministers responsible for trade will decide on the headquarters, structure, role and responsibilities. [35] The African Union Assembly of Heads of State and Government is the highest decision-making body. It will probably meet during the AU summit. [39] The Council of Trade Ministers provides strategic trade oversight and ensures the effective implementation and implementation of the AfCFTA agreement. [39] As of July 2019, 54 of the 55 African Union states had signed the agreement, with Eritrea the only country not to sign the agreement.

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