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.

scholarly journals IMPACT OF AFRICAN FREE TRADE POLICY (AGREEMENT) ON THE SOCIO-ECONOMIC DEVELOPMENT OF NIGERIA

2021 ◽  
Vol 4 (4) ◽  
Author(s):  
Chika P. Imoagwu ◽  
Joan N. Ozoh ◽  
Chinwe M. Madueke ◽  
Chidinma C. Mbah
Keyword(s):  
Economic Development ◽  
Free Trade ◽  
Household Income ◽  
Access To Health Care ◽  
Free Trade Area ◽  
Growth Strategy ◽  
Poverty Level ◽  
African Countries ◽  
Trade Area ◽  
The World

The signing of the agreement that established the African Continental Free Trade Area (AfCFTA) in the year 2019 is believed to be an African-based growth strategy that is self-reliant and is expected to be the world’s largest free trade area after the World Trade Organization (WTO). The agreement is an attestation to the fact that African countries cannot continue to rely solely on the global trading system and global economy of the world economic powers, probably because they are increasingly becoming unpredictable. However, there is an assumption that the aggregate consumer and business spending on the continent could rise if AfCFTA is implemented successfully. This assumption therefore calls for a research like this to evaluate the likely economic impacts of the free trade agreement on different African countries particularly Nigeria which is the giant of Africa and the focus of this study. To achieve the objectives of the study, descriptive statistical approach was utilized to examine how the AfCFTA could contribute particularly on poverty reduction and Nigeria has been struggling for many decades to reduce poverty. These variables were considered: household income, illiteracy level, unemployment level and access to health care. The results of the analyses revealed that the AfCFTA could be slightly beneficial to Nigeria as it would improve the efficiency of the factors of production and product markets thereby enhancing household income generation, reducing the level of illiteracy, unemployment and increasing access to good health, efficient resource allocation and improved industry competitiveness which was expected to help Nigeria record significant reduction in poverty level and increase in economic development. In the light of these findings, the study recommends that government should then design proactive strategies that would reap the full benefits of AfCFTA such as engaging the private sector in identifying receptive and risk surrounding their sectors and paying more attention to the development of the service sector etc. The study has potential limitations such as unavailability of recent data. To tackle this limitation, the study adopted the 2019 survey data on pillars of measuring human development index by World Bank to address the quality of the findings, and research question. JEL: F10, H13, O10 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0779/a.php" alt="Hit counter" /></p>

scholarly journals The Development of the Free Trade Area of the Americas: A Guide For Legal Research

2005 ◽  
Vol 33 (1) ◽  
pp. 11-64 ◽  
Author(s):  
Michelle S. Viegas
Keyword(s):  
United States ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Area ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Common Market ◽  
Trade Area ◽  
The World

At the 1994 Summit of the Americas, leaders of democratic nations in the Western Hemisphere committed to establishing a Free Trade Area of the Americas (FTAA) by January 2005. The Declaration of Principles resulting from that Summit called for building on “existing sub-regional and bilateral arrangements in order to broaden and deepen hemispheric economic integration and to bring the agreements together.” Although ambitious, this endeavor was undertaken during a decade marked by an unprecedented proliferation of trade agreements. In 1991, Argentina, Brazil, Paraguay and Uruguay agreed to initiate the formation of a common market now known as the MERCOSUR. Then in 1994, Canada, Mexico and the United States signed the North American Free Trade Agreement which replaced the United States-Canada Free Trade Agreement. Later that year, nations around the world formalized the existing General Agreement on Tariffs and Trade, creating the World Trade Organization. In 1997, the Andean Community of Bolivia, Colombia, Ecuador, Peru and Venezuela formalized its plans to establish a common market. Members of the Caribbean Community and Common Market also agreed in several protocols to further their economic and social integration. During the 1990's, numerous other trade agreements were negotiated, and their development continues at the same rapid pace today.

Agreement Establishing The African Continental Free Trade Area

2019 ◽  
Vol 58 (5) ◽  
pp. 1028-1083
Author(s):  
James Thuo Gathii
Keyword(s):  
Gross Domestic Product ◽  
World Trade Organization ◽  
Free Trade ◽  
World Trade ◽  
Free Trade Area ◽  
Trade Agreement ◽  
Domestic Product ◽  
African Union ◽  
Trade Area ◽  
The World

On May 30, 2019, the Agreement Establishing the African Continental Free Trade Area (AfCFTA) entered into force for the twenty-four countries that had deposited their instruments of ratification. When the remaining thirty-one member states of the African Union ratify it, the AfCFTA will cover a market of 1.2 billion people and a gross domestic product (GDP) of $2.5 trillion. That would make it the world's largest trade agreement since the World Trade Organization (WTO).

scholarly journals PENGARUH ASEAN-CHINA FREE TRADE AREA TERHADAP KOMODITI TEKSTIL INDONEISA PERIODE 2008-2015

2019 ◽  
Vol 23 (2) ◽  
pp. 47-56
Author(s):  
Raudah Aghnia Ahda ◽  
Made Siti Sundari ◽  
Idfi Setyaningrum
Keyword(s):  
Free Trade ◽  
World Bank ◽  
Free Trade Agreement ◽  
Free Trade Area ◽  
Trade Agreement ◽  
T Test ◽  
Trade Area ◽  
The World Bank ◽  
The World

This study aims to determine whether there is different value between exportand import performance before ACFTA and after ACFTA by developing hypothesis from the previous studies. To test the proposed hypothesis, this Study employed the independent samples t-test with data from the World Bank database. The case study was carried out with concern on textile business between Indonesia and China. The results indicate that the exports value has different mean following the free trade agreement. Similar result occurs at the import value of textile from China toIndonesia.

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.

Recent Developments in the Regulation of Investor-State Dispute Resolution: Any Lessons for the Southern African Development Community?

2017 ◽  
Vol 10 (2-3) ◽  
pp. 180-204
Author(s):  
Lawrence Ngobeni ◽  
Babatunde Fagbayibo
Keyword(s):  
Dispute Resolution ◽  
Free Trade ◽  
Free Trade Area ◽  
Trade Agreement ◽  
Southern African Development Community ◽  
African Union ◽  
Foreign Investments ◽  
African Development ◽  
Trade Area ◽  
Recent Developments

Abstract In 2016, the Southern African Development Community (SADC) amended Annex 1 of the SADC Protocol on Finance and Investment (FIP) in order to remove investor access to international arbitration or Investor-State Dispute Resolution (ISDS). The recent formation of the African Continental Free Trade Area (AfCFTA) and the COMESA-EAC-SADC Tripartite Free Trade Agreement (T-FTA) are factors that will likely curtail SADC’s ability to regulate foreign investments. Both AfCFTA and T-FTA are supposed to have their own investment protocols. This means that SADC faces the loss of regulatory authority over foreign investments. The recent formation of the Pan African Investment Code (PAIC) has shown that some African Union (AU) Member States want to provide ISDS for their investors, while others including SADC Members States do not. This article intends to evaluate the lessons SADC can learn from other jurisdictions in terms of the effective regulation of ISDS.

Cross-Cumulation Arrangement as FTA Under GATT Article XXIV

2019 ◽  
Vol 23 (1) ◽  
pp. 165-185
Author(s):  
Jong Bum Kim
Keyword(s):  
World Trade Organization ◽  
Free Trade ◽  
Value Chain ◽  
World Trade ◽  
Free Trade Area ◽  
Rules Of Origin ◽  
Free Trade Areas ◽  
Intermediate Products ◽  
Trade Area ◽  
The World

ABSTRACT A cross-cumulation arrangement helps manufacturers meet the demands of the global value chain economy by facilitating the sourcing of intermediate products within the territories of participants in the arrangement. It is a de facto free-trade area formed by a network of bilateral free-trade areas underpinning the arrangement. However, a cross-cumulation clause provided in a bilateral free-trade area that underpins a cross-cumulation arrangement is inconsistent with General Agreement on Tariffs and Trade (GATT) Articles I and III because the intermediate products from the participants in the arrangement are more favorably treated than products from non-participants in the arrangement. The GATT inconsistencies of a cross-cumulation clause cannot be justified by the GATT Article XXIV exception, because a cross-cumulation clause of a bilateral free-trade area derogates from the free-trade area’s aim by facilitating trade in intermediate products between the free-trade area parties and non-parties to the free-trade area that are participants in the arrangement. In contrast, a cumulation clause provided in a free-trade area contributes to the free-trade area’s aim by facilitating trade in intermediate products between the parties to the free-trade area. To bring a cross-cumulation arrangement such as the Regional Convention on Pan-Euro-Med Preferential Rules of Origin into conformity with World Trade Organization law, the arrangement and its underlying free-trade areas should be recognized as a de jure free-trade area under GATT Article XXIV and notified to the World Trade Organization as such. A large cross-cumulation arrangement as a mega-free-trade area is likely to contribute to the world trading system by harmonizing divergent free-trade area rules of origin and providing an efficient mechanism for the formation of a mega-free-trade area.

Multilateralism compromised: the mysterious origins of GATT Article XXIV

2006 ◽  
Vol 5 (1) ◽  
pp. 1-30 ◽  
Author(s):  
KERRY CHASE
Keyword(s):  
Developing Countries ◽  
Cold War ◽  
European Integration ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Area ◽  
Trade Agreement ◽  
Trade Area ◽  
Policy Ideas ◽  
The Us

The GATT treaty's loophole for free trade areas in Article XXIV has puzzled and deceived prominent scholars, who trace its postwar origins to US aspirations to promote European integration and efforts to persuade developing countries to endorse the Havana Charter. Drawing from archival records, this article shows that in fact US policymakers crafted the controversial provisions of Article XXIV to accommodate a trade treaty they had secretly reached with Canada. As a result, the free trade area exemption was embedded in the GATT–WTO regime, even though neither the Havana Charter nor the US–Canada free trade agreement was ever ratified. Theoretically, the case is an important example of how Cold War exigencies altered the policy ideas of US officials.

Advancing Regional Integration in Africa through the Continental Free Trade Area (CFTA)

2017 ◽  
Vol 10 (1) ◽  
Author(s):  
F. A. Ismail
Keyword(s):  
Trade Liberalization ◽  
Free Trade ◽  
World Bank ◽  
Regional Integration ◽  
Industrial Development ◽  
Free Trade Area ◽  
African Union ◽  
Trade Area ◽  
The World Bank ◽  
The World

AbstractThe past decade and a half of the new millennium has ushered in dramatic changes to the architecture of world trade creating both opportunities and challenges for Africa’s development. The paper is critical of the recent paper of the World Bank that resuscitates the approach to trade liberalization and regional integration propagated by the Washington Consensus. The paper argues that African countries should adopt a “development integration” approach to regional integration that seeks to combine trade liberalization, industrial development and infrastructure development. The paper urges the World Bank and Africa’s trading partners from the north and south, such as the EU, the US and China, to work closely with the African Union to advance the negotiations and implementation of the Continental Free Trade Area (CFTA) and the African Union Agenda 2063.

A Legal Analysis of the Free Trade Agreement of 1975 between the European Community and the State of Israel

1993 ◽  
Vol 27 (3) ◽  
pp. 415-446 ◽  
Author(s):  
Daphna Kapeliuk-Klinger
Keyword(s):  
Free Trade ◽  
Free Trade Agreement ◽  
Free Trade Area ◽  
Trade Agreement ◽  
The State ◽  
Legal Analysis ◽  
Fair Competition ◽  
Trade Area ◽  
Equivalent Effect ◽  
State Of Israel

On January 1, 1989, the State of Israel abolished the remaining customs duties and charges, having equivalent effect on imported products originating in the European Communities (hereinafter the Community), in accordance with the Free Trade Agreement (hereinafter the FT Agreement) concluded on May 11, 1975, between the Community and Israel.The FT Agreement, which sets out to create a free trade area in the territories of the contracting parties, was the result of the previously existing relationship between the Community and Israel, as well as the emergence of the Global Mediterranean Policy within the Community. The FT Agreement attempts to foster economic activity by promoting expansion of trade and cooperation in reciprocal areas of interest, thus creating fair competition and contributing to the development and expansion of world trade.

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