Under the new "Guided Trade Initiative" of the African Continental Free Trade Area (AfCFTA), several African countries are preparing to trade 96 products freely with tariff preferences.
The AfCFTA, which came into force on 1 January 2021, has been signed by 54 countries, with 44 of them having ratified the agreement. This marks a significant step toward the liberalisation of intra-continental trade. Officially launched on 7 October by the AfCFTA Secretariat, the "Guided Trade Initiative" is designed to facilitate free trade in 96 products, including tea, coffee, processed beef products, sugar, and dried fruit.
Aimed at motivating African trade operators, this initiative is seen as a preparatory phase for the operational, legal, and institutional groundwork needed to expand the scheme. By 2023, the goal is to triple the volume of products traded and involve an increasing number of countries in the initiative.
Credit:Jeuneafrique