The first coordination meeting of the heads of regional economic communities (RECs) on the implementation of the African Continental Free Trade Area (AfCFTA) has been held in Accra.
Secretary-General of the AfCFTA Secretariat, Wamkele Mene, addressing the meeting, indicates the single continental market will be built on the successes of regional economic communities.The AfCFTA boss uses the opportunity to update the continent on the status of negotiations on major protocols under the agreement such as the rules of origin.
“Negotiations are over 86percent concluded on rules of origin; the outstanding areas are sugar, automobiles, textiles and clothing, and a few others including edible oils and finished products that are not yet concluded on tariff lines. We hope that they would be concluded by the end of the month,” he says. Mr. Mene urges the need for the RECs and AfCFTA Secretariat to fast-track negotiations on the rules of origin.
“On the level of the RECs and the Secretariat, we should jointly fast-track the completion of the rules of origin manually because that’s where Customs unions will be able to implement them,” he advises.He charged the continent to rethink its approach towards goods that are produced in special economic zones within Africa.
“Many countries on the continent have invested several millions of dollars in special economic zones and they generate jobs and investments so we cannot ignore these zones as we implement the agreement.In Africa, we are very willing to accept products that are produced from SEZs outside the continent and yet goods that are produced by SEZs within the continent are treated differently,” he bemoans.
Vice President Dr. Mahamudu Bawumia, in a speech, read on his behalf, applauds the AfCFTA Secretariat and its leadership for the remarkable output of bringing Africa closer to its dream of an integrated common market.
He however calls for the speedy implementation of the processes of the single continental market. “We cannot accept the staggering low intra-Africa trade figures as they are; we have to do something to alter this picture,” he says and calls for supportive and vibrant RECs. He adds: “Without a doubt, the scale and scope of these benefits depend on the effective implementation of the AfCFTA, including the strengthened performance of the RECs.”
English