scholarly journals African Continental Free Trade Area Agreement – Does the Facts Support the Benefits for Nigeria?

2020 ◽  
Vol 13 (7) ◽  
pp. 236
Author(s):  
Onwuka Ifeanyi Onuka ◽  
Ozegbe Roseline Oroboghae
Keyword(s):  
Free Trade ◽  
Free Trade Area ◽  
Analytical Framework ◽  
Development Indicators ◽  
Trade Area ◽  
Structural Problems ◽  
Doing Business ◽  
Related Development ◽  
Ease Of Doing Business

Hesitantly, but finally, Nigeria joined the African Continental Free Trade Area (AfCFTA) with the Nigerian President, Mohammadu Buhari, signing the protocol at the African Union Summit in Niamey on July 7, 2019 based on perceived benefits. This study interrogated the purported benefits for Nigeria using standard trade costs between Nigeria and peer countries in Africa. Using a content analytical framework on a dataset by World Development Indicators and World Integrated Trade Solutions, the study found that average tariff rate in Nigeria is very high when compared to that of her major trading rivals in Africa like Ghana, Egypt and South Africa. Furthermore, the study found Nigeria in a comparative disadvantaged position on the ease of doing business in the same setting. Also, Nigeria’s major export commodity is crude oil and lubricants which has little or no market in the continent. Besides, trade-related infrastructure, especially roads and maritime corridors, in Nigeria is poor even by African standards. With these structural problems, ipso facto, Nigeria may not benefit maximally and comparatively in the enlarged continental market envisioned by the AfCFTA agreement. The study therefore, recommended that Nigerian government should continue to maintain the present cautious approach and refrain from making further commitments on the AfCFTA deal. In the meantime, the country should embark on massive infrastructural and trade-related development, improve the ease of doing business and diversify the economy in order to be in vintage position to exploit the potential opportunities offered by the AfCFTA in the medium-to-long term horizon.

scholarly journals The COVID-19 Pandemic and African Continental Free Trade Area (AfCFTA): Exploring Potential Impacts and Developmental Implications

2021 ◽  
Author(s):  
Edward Asiedu
Keyword(s):  
Free Trade ◽  
Free Trade Area ◽  
Trade Agreement ◽  
Potential Effect ◽  
African Countries ◽  
Trade Area ◽  
The World ◽  
Vulnerable Households

The COVID-19 pandemic has caused nontrivial disruptions to global value chains and affected the lives of many people, particularly the poor across the world. The outbreak of the COVID-19 pandemic in the early part of 2020 in Africa, happened during a time that African countries had just signed one of the world’s largest trade agreements and therefore began introducing continental-level structures to strengthen free trade among member states. This chapter examines the potential effect of the COVID-19 pandemic on the agenda for free trade in Africa, both in the short and in the long-term. Specifically, the chapter explores the trading environment of firms in Africa and highlights generally the challenges faced when implementing a trade agreement in the middle of a pandemic. It also, on the other hand, highlights how trade agreement in a middle of a pandemic can be a good thing to minimize the effect of the pandemic on poor and vulnerable households in Africa. The chapter ends by highlighting the need for managing the COVID-19 pandemic to grow and sustain intra-African trade.

Development of BIMSTEC Free Trade Area for Thailand in Indo-Pacific

2020 ◽  
Vol 2 (2) ◽  
pp. 192-205
Author(s):  
Piti Srisangnam ◽  
Chayodom Sabhasri ◽  
Surat Horachaikul ◽  
Jirayudh Sinthuphan4and ◽  
Jittichai Rudjanakanoknad
Keyword(s):  
Free Trade ◽  
Large Scale ◽  
Economic Value ◽  
Field Research ◽  
Free Trade Area ◽  
Analytical Framework ◽  
Model Studies ◽  
Trade Area ◽  
Trade Analysis ◽  
Global Trade Analysis Project

To develop a policy for creation of economic value and utilise the development of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) free trade area for Thailand, two research tools are adopted in this article. The first one is based on the Global Trade Analysis Project (GTAP) model, adopted as a tool to explore quantitative impacts from the implementation of free trade area. Due to the limitations of the model, however, we have adopted a complementing qualitative analytical framework to ensure that the research must be as comprehensive as possible in every aspect. The qualitative analytical framework chosen in this article is called PEST analysis. Having completed field research, in-depth interviews, focus group meetings and model studies, this article concludes that BIMSTEC is a large-scale market with high purchasing power and growth rate as well as a great source of vast natural and human resources. It is situated not far from Thailand, and at the same time, its social and cultural conditions are very close to those of Thailand’s. It concludes that a stronger BIMSTEC is an essential foundation of Indo-Pacific. JEL Codes: F13, F 15

scholarly journals Knocking On The EU's Door: The Political Economy of EU-Ukraine Relations

2007 ◽  
Vol 3 (1) ◽  
pp. 64-78
Author(s):  
Marco Montanari
Keyword(s):  
Free Trade ◽  
Free Trade Area ◽  
European Neighbourhood Policy ◽  
Eu Accession ◽  
Trade Area ◽  
Eu Membership ◽  
Asymmetrically Distributed ◽  
Benefits And Costs ◽  
The Eu

The EU has recently launched the European Neighbourhood Policy, aimed at fostering integration with countries located close to its borders. This article proposes a liberal intergovernmentalist framework for the analysis of Ukraine's prospects of integration with the EU and apply it to evaluate the main economic and political benefits and costs associated to three possible scenarios: free trade area, fully developed European Neighbourhood Policy and EU accession. Two main conclusions can be drawn. Firstly, gains from integration would be asymmetrically distributed and would mostly accrue to Ukraine, whilst the main obstacles to integration would not be economic, but political. Secondly, the European Neighbourhood Policy does not represent a credible long-term alternative to EU membership for Ukraine; thus the outcome of the integration process should probably consist either in the mere creation of a free trade area or in EU accession.

scholarly journals Climate Finance and Carbon Pricing in the Context of Africa’s Continental Free Trade Area

2021 ◽  
Author(s):  
King Carl Tornam Duho ◽  
Bonou Senan Charlie Carine
Keyword(s):  
Free Trade ◽  
Free Trade Area ◽  
Critical Issue ◽  
Climate Finance ◽  
Low Carbon ◽  
African Countries ◽  
Carbon Pricing ◽  
Trade Area ◽  
Critical Issues

Climate change continues to be a critical issue of concern across the globe. In Africa, the vulnerability and exposure to climate risk are very high although African countries do not contribute to emissions as compared with developing countries in other continents. We argued that to effectively achieve the low carbon and climate-resilient development, Africa must use appropriate diversified financial instruments, have a long-term plan, implement a systemic approach and provide support based on each country’s needs. We also explore some critical issues on climate finance, carbon pricing and other related issues within a lens of an Africa which is making strides towards a continent-wide free trade area.

scholarly journals POTENTIAL CONSEQUENCES OF IMMIGRATION TO THE EUROPEAN UNION AND THE POSSIBILITY OF LIMITING THE SCALE OF THIS PHENOMENON

2019 ◽  
Vol 10 (1 (32)) ◽  
pp. 1-8
Author(s):  
Dorota Turek
Keyword(s):  
European Union ◽  
Free Trade Area ◽  
Marshall Plan ◽  
Investment Climate ◽  
The European Union ◽  
African Countries ◽  
Trade Area ◽  
Doing Business ◽  
Primary Literature ◽  
Ease Of Doing Business

The aim of this study is to assess the scale and effects of influx of people from Africa and the Middle East to European Union countries and to present the objectives of the “Marshall Plan with Africa”, which aims to support African economic activation and intensify the economic links within this region. The assessment also addresses the risk of escalation of migration to Europe and European Union initiatives aimed at containing the African population within their countries. The author focuses on the activities presented in the first pillar of the “Marshall Plan” which provide for improving the investment climate in African countries, including the ease of doing business, developing trade and establishing a free trade area, and ratifying the Trade Facilitation Agreement (FTA). The paper is based on the primary literature on the subject under study and the sources of data include Eurostat, UN, WTO and Africa Infrastructure Knowledge Program.

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