Project Title: African Continental Free Trade Area Project
Cameroon is one of the 54 countries that have signed the agreements regarding the African Continental Free Trade Area (AfCFTA). In June 2019, the National Assembly and the Senate passed a bill allowing the President of the Republic to ratify the agreement. The AfCFTA was formally ratified through Decree No. 2019/586 on October 31st, 2019. However, the country’s economy is still heavily reliant on the informal sector, which employs over 90% of the workforce. The agricultural sector mainly focuses on producing cash crops for foreign markets, leading to a persistent dependence on foreign manufactured goods.
To unlock the complete potential of the AfCFTA, the Cameroon government must aim to boost its manufacturing output to 25% of GDP, in line with its new National Development Strategy for 2020-2030. Achieving this target requires a revival of the successful free trade practices from the pre-colonial era, which encompassed a range of effective approaches. It is worthwhile to study how the implementation of the AfCFTA can be boosted.
This project has as objective to strengthen the understanding and the implementation of the African Continental Free Trade Area Agreement (AfCFTA) in Cameroon. More specifically;
This project is sponsored by our partner, the Initiative for African Trade and Prosperity (IATP) at the Vinson Centre for the Public Understanding of Economics & Entrepreneurship, at the University of Buckingham and will last for one year from September 2023 to April 2024.
No posts found!