The Africa n Continental Free Trade Area represents a unique opportunity for Africa n countries to leverage free trade and overcome the challenges hindering this sector's growth and development.
- Advertisement -The AfCFTA aims to create a single market for goods and services across Africa, thus reducing trade barriers and facilitating the free movement of goods across borders. African leaders can leverage the AfCFTA to enhance supply chain connectivity through policy coordination and effective implementation of harmonized regulations. Such policy coordination can only be facilitated with regular consultations and joint decision-making processes among African leaders.
African governments must prioritize the full implementation of the AfCFTA, which entails reductions in tariff and nontariff barriers among African countries. They should establish control measures, such as a committee, to monitor and enforce the tariff reduction commitments and ensure compliance with the trade agreement. The successful implementation, backed by improvements in the trading environment, can lead to a substantial boost in African export services.
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