ABUJA, Nigeria – Continental Free Trade Area negotiations to benefit all African countries and reduce poverty in 2018.
The Continental Free Trade Area (CFTA) negotiations are moving in the right direction and at the desired pace, with the first phase expected to be completed by the end of 2017, David Luke, coordinator of the African Trade Policy Center, reported last week.
Speaking at the Ed for Business Global Review 2017 to launch the Economic Commission for Africa (ECA): Continental Free Trade Area (CFTA) in Africa – a human rights perspectiveLuke emphasized the importance of ensuring that the CFTA’s negotiating principles are inclusive, consultative and participatory.
“The final agreement is expected to include important provisions to ensure a win-win CFTA,” Luke said, updating participants on the negotiations.
Human rights
“The CFTA cannot win unless it is consistent with the values of economic justice and human rights enshrined in the African Agenda 2063, the Global Agenda 2030 and the African Charter on Human and Peoples’ Rights and African International Human Rights Conventions. Countries have been registered,” he added.
The CFTA will provide the continent with an important tool to achieve Africa’s poverty reduction goals contained in the continent’s Agenda 2063 and the Global Agenda 2030.
ECA Review of Regional Integration in Africa (ARIA) VIII Report Bringing about the CFTAIt shows that CFTA outcomes can be ‘win-win’ for all countries in Africa to benefit and carefully address the interests of vulnerable communities within countries, Luke said.
The CEFTA connects 54 African countries with a population of over one billion people and a gross domestic product of over $3.4 trillion.
In the process, Luke said ECA and its partners aim to continue their research on the CFTA and promote the importance of human rights in the context of African trade.
“We encourage you to share the findings of this report widely so that the recommendations will have a positive impact on the rest of the CFTA process, including the second phase of negotiation, implementation and monitoring phases,” he urged the participants.
Extensive consultation
Priority policy recommendations in the report include the need to ensure broad consultation and participation in CFTA negotiations and implementation. There is a need to improve disaggregated data collection; It is necessary to know women clearly; Fully estimate potential earnings and losses; engage in accelerated, overlapping and targeted liberalization; Maintaining the policy space and ensuring adjustment mechanisms to monitor and evaluate the effects of the CFTA.
The CEFTA connects 54 African countries with a population of over one billion people and a gross domestic product of over $3.4 trillion.
With CEFTA, African leaders aim to create a single continental market for goods and services, free movement of business people and investments, and expand intra-African trade. CFTA is expected to enhance competitiveness at the industry and corporate level.
