Un Free Trade Agreement

In Kigali, Rwanda, where the framework protocol was signed in March last year, African heads of state and government were optimistic. If – or when – the 55 African countries ratify the free trade area, it would together represent more than $4 trillion in consumer and business spending, and a market size of 1.2 billion people. The market access card was developed by the International Trade Centre (ITC) to support companies, governments and market access researchers. The database, which is visible through the market access map online tool, contains information on tariff and non-tariff barriers in all active trade agreements that are not limited to those that are officially notified to the WTO. It also documents data on non-preferential trade agreements (for example. B generalized preference regimes). Until 2019, Market Access Map has provided downloadable links to text contracts and their rules of origin. [27] The new version of the Market Access Map, which will be released this year, will provide direct web links to relevant contract sites and connect to other ITC tools, particularly the rules of the original intermediary. It is expected to become a multi-purpose instrument to help companies understand free trade agreements and qualify for the original requirements under these agreements.

[28] The Nigerian Manufacturers` Association (MAN) commended the Nigerian government for not signing the framework protocol because the proposed agreement was vague in terms of market access and the application of rules of origin. The framework itself stipulates that by 2022, participating countries will have to remove tariffs on 90% of the products they produce and eliminate non-tariff barriers, on the duration of tariff delays at borders, import quotas, subsidies, regulatory bottlenecks, etc. «While trade and investment agreements can create new economic opportunities, we highlight the negative effects that these treaties and agreements can have on the enjoyment of human rights. which are anchored in legally binding instruments, be they civil, cultural, economic, political or social. Our concerns relate to the rights to life, food, water and sanitation, health, housing, education, science and culture, improved labour standards, the independence of the judiciary, the clean environment and the right not to forcibly relocate. Forty-four African countries have recently signed a Framework Protocol for the Continental Free Trade Area (AfCFTA) that brings the continent closer to becoming one of the largest free trade zones in the world. It argues that a free trade agreement could help «diversify Africa`s exports, reducing the volatility of African economies and leading to more sustainable economic growth.» In other words, the agreement could reduce Africa`s dependence on extractive raw materials such as oil and minerals, whose prices often fluctuate on the international market.