Paving the Way for a Successful Implementation of the AFCFTA

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Paving the Way for a Successful Implementation of the AFCFTA

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WORKING GROUP ON AFCFTA IMPLEMENTATION IN CAMEROON
Paving the Way for a Successful Implementation of the AFCFTA

Date: January 25, 2023
Time: 10:00 am – 2:00 pm (GMT+1)
Venue: Muna Foundation

Background

On June 3, 1991, Heads of States and Governments of the Organization for African Unity (OAU) adopted the Abuja Treaty establishing the African Economic Community (AEC). This treaty made Africa’s Regional Economic Communities (RECs) the cornerstone of greater integration, leading to the creation of an African Economic Community. Article 88 of the Abuja Treaty states that “the basis of the African Economic Community is the progressive integration of the RECs activities with the establishment of full continental economic integration as the ultimate objective towards which the activities of the RECs should be directed”. The African Continental Free Trade Area (AfCFTA), which was enforced in January 2021, marked a decisive turning point in this process. It aims to boost intra-African trade, foster economic integration. and promote sustainable development across the continent. With the potential to create the world’s largest free trade area, the AfCFTA also represents a unique opportunity for African nations to boost their economies and improve on the livelihood of their citizens. However, a difficult puzzle lies in the fact that some countries belong to several existing RECs. These have a variety of objectives and numerous treaties and protocols governing interstate relations, which overlap and create a degree of confusion. In other words, the fact that some countries belong to more than one REC that were created to act as catalysts for the successful implementation of the AfCFTA is today a major obstacle to its implementation. Other factors such as rules of origin, the application of the common external tariff, and the duplication and sometimes competition from certain activities also pose challenges to the implementation of the AfCFTA. As a result, the Nkafu Policy Institute of the Denis & Lenora Foretia Foundation is organizing a stakeholder meeting on the theme: “Paving the Way for a Successful Implementation of the AfCFTA” to address these challenges and provide policymakers and other stakeholders with possible pathways.

Objective

By examining the role of the RECs in advancing the AfCFTA agenda on the continent, this discussion will shed light on how each country can leverage this opportunity to unlock economic growth, foster regional cooperation, and ultimately shape the future of trade relations across the continent. In particular, the stakeholder meeting will address the following issues:

  • The role and responsibilities of RECs in advancing the implementation of the AfCFTA.
  • Challenges and opportunities faced by RECs as building blocks for the implementation of the AfCFTA.
  • The role that think tanks can play in advancing the implementation of the AfCFTA and its sustainability.

Expected Outcomes

Increased awareness and understanding of the role that REC can play in driving the AfCFTA and identification of concrete actions and policy recommendations to position them as key players in accelerating the implementation of the AfCFTA

Target audience

The meeting will bring together 20 participants, including think tank leaders, policymakers, representatives of regional economic communities, customs officials, and representatives of civil society organizations.

Contact details

Email: [email protected] / Tel: (+237) 654 86 72 54

The event is finished.

Date

Jan 25 2024
Expired!

Time

8:00 AM - 6:00 PM

Location

Muna Foundation
724-742 Rue De Narvik, Yaounde
Nkafu Policy Institute

Organizer

Nkafu Policy Institute
Phone
+237 654 86 72 54
Email
[email protected]
Website
https://nkafu.org/

Catalyzing Africa’s Economic Transformation

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