Trading under the Africa Continental Free Trade Area (AfCFTA) Agreement was due to commence on 1 July 2020, but as a result of the COVID-19 global pandemic, a new date has been scheduled to January 2021.
Confirming this to ADOATV Business Desk on Wednesday 1st July 2020, Mr. Louis Afful, the Country Director for Africa Continental Free Trade in Ghana noted that today would have been a historic day on the African continent regarding the implementation of the world’s largest free trade zone –AfCFTA.
However, in fighting the spread of the COVID-19 pandemic, African Governments are engaging their efforts largely on restrictions on cross border movements.
Most business activities that were severely impacted with the virus were forced to reschedule to the latter part of the year in anticipation of full business recovery.
The operational phase of the AfCFTA was subsequently launched during the 12th Extraordinary Session of the Assembly of the African Union in Niamey, Niger on 7 July 2019. The AfCFTA will be governed by five operational instruments, i.e. the Rules of Origin; the online negotiating forum; the monitoring and elimination of non-tariff barriers; a digital payments system and the African Trade Observatory.
Story by Naa Anyema Collison