The Senior Special Assistant to the President on Public Sector Matters and Secretary of the National Action Committee on African Continental Free Trade Agreement (AfCFTA), Mr. Francis Anatogu has expressed optimism that if effectively implemented, the AfCFTA will result in the elimination of 90 percent of tariff lines.
According to him, the objective of the African Continental Free Trade Agreement will help to deepen economic integration of the continent, improve and expand intra-Africa trade, enable rule-based engagement facilitating dispute resolution and addressing injurious trade practices.
He made this known at a Leadership Stakeholders Consultation on ‘Defining the Trade in Service Strategy for the AfCFTA’ said the pact would assist in the harmonization of policies, regulations and standards, as well as lead to customs co-operation and mutual administrative assistance.
The AfCTA, according to him will double intra-Africa trade flows, currently at 15 per cent as well as double Africa’s share of world trade from three per cent to six per cent over the next 10 years.
Also, the Nigeria Professor of International Economic Relations at Covenant University, who double as a consultant of ECOWAS Common Investment Market, Pro. John Aremu during a presentation titles “Conceptual Issues in Africa Integration Emergence of AfCFTA, and It’s Protocol”said while it is right for Nigeria to ratify the agreement, the constitution provides that such treaties entered into by the can only become beneficial to the nation if it has a place inside nigerian law to guarantee enforceability.
