Acfta Agreement Africa Pdf

The 12th African Union extraordinary meeting on AfCFTA was convened to bring the new agreement into its operational phase, which was held in Niamey on 7 July 2019. [40] [41] The SAfCFTA secretariat is responsible for coordinating the implementation of the agreement and is an autonomous body within the AU system. Although it has an independent legal personality, it will work closely with the AU Commission and receive its AU budget. The Council of Ministers responsible for trade will decide on the headquarters, structure, role and responsibilities. [35] The African Union Assembly of Heads of State and Government is the highest decision-making body. It will probably meet during the AU summit. [39] The Council of Trade Ministers provides strategic trade oversight and ensures the effective implementation and implementation of the AfCFTA agreement. [39] Most AU member states have signed the agreement. Benin, Botswana, Eritrea, Guinea-Bissau, Nigeria and Zambia did not sign the agreement. [63] Nigerian President Muhammadu Buhari was particularly reluctant to join if it against Nigerian entrepreneurship and Nigerian industry.

[64] On 7 July 2019, Nigeria and Benin pledged to sign free trade with Africa at the 12th Special Session of the Association`s Assembly on ACFTA; Eritrea is the only country among the 55 member states of the African Union that has not signed the agreement. [65] [66] [41] At this summit, Benin and Nigeria signed the agreement, so that Eritrea is the only African state not to be part of the agreement; Since then, Eritrea has applied to join the agreement. Gabon and Equatorial Guinea also tabled their ratifications at the summit. At the time of launch, there were 27 states that had ratified the agreement. [45] [47] [48] [49] After the Kigali Summit, further signatures were affixed to the AfCFTA. At the African Union summit in Nouakchott on 1 July 2018, five other nations, including South Africa, joined the agreement. Kenya and Ghana were the first nations to ratify the agreement and file their ratifications on 10 May 2018. [2] Of the signatories, 22 had to ratify the agreement in order for it to enter into force, and it happened on 29 April 2019, when Sierra Leone and the Arab Democratic Republic of the Sahara ratified the agreement. [7] As a result, the agreement came into force 30 days later on 30 May 2019; At that time, only Benin, Nigeria and Eritrea had not signed.