{"id":5197,"date":"2018-04-24T08:50:03","date_gmt":"2018-04-24T13:50:03","guid":{"rendered":"https:\/\/www.iisd.org\/itn\/?p=5197"},"modified":"2024-08-09T18:28:35","modified_gmt":"2024-08-09T16:28:35","slug":"agreement-to-create-the-african-continental-free-trade-area-afcfta-signed-in-rwanda","status":"publish","type":"post","link":"https:\/\/www.iisd.org\/itn\/2018\/04\/24\/agreement-to-create-the-african-continental-free-trade-area-afcfta-signed-in-rwanda\/","title":{"rendered":"Agreement to create the African Continental Free Trade Area (AfCFTA) signed in Rwanda"},"content":{"rendered":"<p>On March 21, 2018, <a href=\"https:\/\/au.int\/sites\/default\/files\/pressreleases\/34033-pr-indication20of20signing20authority20-20updated20final20final20docx.pdf\">44 of the 55 African Union member states<\/a> gathered in Kigali, Rwanda, signed the AfCFTA with a view to creating a single market in the continent. Once the agreement is ratified by all signatories, the trade bloc to be created would encompass 1.2 billion people and over USD 2 trillion in combined GDP.<\/p>\n<p>Countries agreed to remove tariffs on 90 per cent of goods and to liberalize services. Free movement of people and a single currency could be future developments. Signing of the agreement concluded the first phase of negotiations; countries will focus on the <a href=\"http:\/\/ccsi.columbia.edu\/files\/2016\/10\/No-222-Mbengue-FINAL.pdf\">AfCFTA investment provisions<\/a> in phase 2.<\/p>\n<p>Among the countries that did not sign the agreement, <a href=\"http:\/\/www.pulse.ng\/bi\/strategy\/why-nigeria-south-africa-did-not-sign-the-afcfta-agreement-id8151528.html\">Nigeria and South Africa indicated<\/a> the need for broader consultations with their domestic stakeholders.<!--more--><\/p>\n<script type=\"text\/javascript\"> toolTips('.classtoolTips70','free trade agreement'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips99','Chambre de commerce de Stockholm'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips110','inversi\u00f3n extranjera directa'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips112','Objetivo de Desarrollo Sostenible'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips114','Sistema de Tribunales de Inversiones'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips118','Union europ\u00e9enne'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips119','Uni\u00f3n Europea'); <\/script>","protected":false},"excerpt":{"rendered":"<p>On March 21, 2018, 44 of the 55 African Union member states gathered in Kigali, Rwanda, signed the AfCFTA with a view to creating a single market in the continent. <script type=\"text\/javascript\"> toolTips('.classtoolTips70','free trade agreement'); <\/script><\/p>\n","protected":false},"author":1,"featured_media":15869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[397],"tags":[1962,1966,1946,1977],"class_list":["post-5197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-afcfta","tag-au","tag-nigeria","tag-south-africa"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/5197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/comments?post=5197"}],"version-history":[{"count":0,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/5197\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/media\/15869"}],"wp:attachment":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/media?parent=5197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/categories?post=5197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/tags?post=5197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}