UGANDA WELCOMES AFRICA FREE TRADE.

Monday, July 8, 2019
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UGANDA WELCOMES AFRICA FREE TRADE.

Uganda is upbeat about the coming into force of the African continental free trade Agreement(AFCFTA) which was signed during the African union (AU) summit in Kigali on march 21 last year by 44 countries . " see the attached press release below about the Agreement"

However the operational phase for AFCFTA was launched at the AU extra ordinary summit in Niamey, Niger yesterday during an event attended by several African leaders, ministers and technocrats. It follows a meeting of African ministers of trade in the same country in June. About 4500 delegates and guests, including 32 heads of state and more than 100 ministers attended the AU summit in Niamey, which has been revamped and boasts a brand new airport , upgrade roads and new hotels for the occasion.

Among African countries, as well as drive industrialization and create jobs. The pact came into force on Moy 30, after it achieved the 22 threshold of ratification include with sierra Leone and Sahrawi Republic depositing instruments endorsing the agreement.

The instruments of ratification include:-

  1. rules of origin
  2. schedule for tariff concessions on trade in goods
  3. online non tariffs barriers monitoring
  4. elimination mechanism,
  5. digital payments and settlement platform
  6.  African trade observatory portal.

The leaders meeting  in Niger were also expected to address a litany of others issues regarding the way the agreement would be I implemented and its implications, including setting the criteria to determine rules of origin for traded products.

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