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The Advent of the African Continental Free Trade Agreement as a Tool for Development

Author

Listed:
  • Omphemetse S. Sibanda, Sr

Abstract

Modelled on the North American Free Trade Agreement (NAFTA), the African Continental Free Trade Agreement (AfCFTA), signed at the Extraordinary Summit of the African Union, which convened in Kigali, Rwanda, on 21 March 2018, is designed to facilitate a single continental trade regulation and integration framework for trade disciplines and intentioned to boost intra-Africa trade. AfCFTA came on the backdrop of not less than eight regional economic communities (RECs), which are loosely regulated. The study finds that AfCFTA can become a beacon of development in the African continent, provided an array of issues including addressing the multiplicity of RECs, putting in place a Development-focused migration and labour policy or developing a side labour agreement similar to that of NAFTA to address other issues like harmonisation of treatment and conditions of workforce and pursuing industrialisation that will help manage the negative spillovers of the Fourth Industrial Revolution (4IR). JEL Codes: C23, F10, F13, F14, F15, F17, F19, K33, K41

Suggested Citation

  • Omphemetse S. Sibanda, Sr, 2021. "The Advent of the African Continental Free Trade Agreement as a Tool for Development," Foreign Trade Review, , vol. 56(2), pages 216-224, May.
    • Handle: RePEc:sae:fortra:v:56:y:2021:i:2:p:216-224
    DOI: 10.1177/0015732521995171
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    References listed on IDEAS

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    1. Donald Lee Sparks, 2016. "The Sustainable Development Goals and Agenda 2063: Implications for Economic Integration in Africa," Research in Applied Economics, Macrothink Institute, vol. 8(4), pages 45-73, December.
    2. Jeronim Capaldo, 2014. "Trade Hallucination: Risks of Trade Facilitation and Suggestions for Implementation," GDAE Working Papers 14-02, GDAE, Tufts University.
    3. Avijit Mandal, 2019. "Welfare Effect of Free Trade Agreements: A Theoretical Note," Foreign Trade Review, , vol. 54(2), pages 115-125, May.
    4. Capaldo, Jeronim, 2014. "Trade Hallucination: Risks of Trade Facilitation and Suggestions for Implementation," Working Papers 179115, Tufts University, Global Development and Environment Institute.
    5. Saba Ismail & Shahid Ahmed, 2019. "Economic Effects of Tariff Liberalization of Prospective India-GCC FTA: A Computable General Equilibrium Analysis," Foreign Trade Review, , vol. 54(3), pages 224-252, August.
    6. Sagnik Bagchi & Surajit Bhattacharyya, 2019. "Country-Specific Determinants of Intra-Industry Trade in India," Foreign Trade Review, , vol. 54(3), pages 129-158, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    AfCFTA; Intra-Africa Trade; RECs; job creation; labour mobility and protection; liberalisation;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • F19 - International Economics - - Trade - - - Other
    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

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