African leaders urged to implement AfCFTA: deadline set for Q1 of 2021

African leaders urged to implement AfCFTA: deadline set for Q1 of 2021

- David Ofosu-Dorte, a legal practitioner, has called for immediate steps from African leaders to implement the AfCFTA initiative

- The initiative was set to be outdoored in July but has been postponed due to the outbreak of the coronavirus

- Plans are in place to ensure its implementation in the first quarter of 2021

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A legal practitioner, David Ofosu-Dorte, has called on African leaders to take immediate steps to ensure the implementation of the Africa Continental Free Trade Area (AfCFTA) initiative.

According to him, countries that are ready to get started with it should take the lead and others will follow in due time.

He explained that, at present, 28 out of the 55 countries on the continent are ready to translate the vision into reality.

African leaders urged to implement AfCFTA ; deadline set for Q1 of 2021

David Ofosu-Dorte Source: AfroChampions
Source: UGC

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It is understood that that the start date was postponed from July to the first quarter of next year (2021) following the outbreak of the coronavirus.

The AfCFTA could potentially unite 1.3 billion people in a $2.5 trillion (R42 trillion) economic bloc.

It is also expected to create a continent-wide market for goods and services, coupled with the free movement of people and capital.

In the long-term, it is anticipated that the system will grow into one that harmonises and liberalizes trade across the continent.

The AfCFTA secretariat is expected to be located in Accra, Ghana.

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Source: Briefly.co.za

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