Title What are the general and specific objectives of the African Continental Free Trade Agreement?
Description

The following are the general and specific objectives of the AfCFTA 


The general objective of the AfCFTA agreement aims at integrating trade across African continent, which has long been limited by outdated border and transport infrastructure, and differing regulations across countries. Intra-African exports constitute 16.6% of total exports in 2017, compared with 68.1% in Europe, 59.4% in Asia, 55% in America according to UNCTAD. 


The specific objectives of AfCFTA are:



  • To create a single market, deepening the economic integration of the continent.

  • To establish a liberalized market through multiple rounds of negotiations.

  • Aid the movement of capital and people, facilitating investment

  • Move towards the establishment of a future continental customs union

  • Achieve sustainable and inclusive socioeconomic development, gender equality and structural transformations within member states.

  • Enhance competitiveness of member states within Africa and in the global market

  • Encourage industrial development through diversification and regional value chain development, agricultural development and food security

  • Resolve challenges of multiple and overlapping memberships.
Category The Africa Continental Free Trade Area