The Parliament, within the scope of its powers conferred by Article 178(2)(t) of the Constitution of the Republic, ratified on 30 December 2022, through Resolution 19/2022, the Agreement establishing the African Continental Free Trade Area (AfCFTA), which was adopted at the 10th Extraordinary Session of the African Union held on 21st March 2018 in Kigali, Republic of Rwanda, and signed on the same date by the Republic of Mozambique.
Through this agreement, member states aim to create a larger and more secure market for goods and services through adequate infrastructure and the reduction or phasing out of tariff and non-tariff barriers applicable to trade and investment in the Continent.
They also recognize the need to establish clear, transparent, predictable and mutually beneficial rules governing trade in goods and services, competition policy, investment and intellectual property, addressing the challenges of multiple and overlapping trade regimes with a view of achieving policy coherence, particularly in relations with third parties.
In light of the aspirations of the Agenda 2063, it is proposed to create a continental market with free movement of people, capital, goods and services, crucial for deepening economic integration, promoting agricultural development, food security, industrialisation and structural economic transformation.

 

1. General objectives 

 

The establishment of the AfCFTA has the following objectives:

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a) to create a single market for goods and services, facilitated by the movement of people, in order to deepen the economic integration of the African continent and in accordance with the Pan-African Vision of "a Peaceful, Prosperous and Integrated Africa" in Agenda 2063;

b) create a liberalized market for goods and services through successive rounds of negotiations;

c) contribute to the movement of capital and natural persons by facilitating investment on the basis of initiatives and developments in States Parties and RECs (Regional Economic Communities);

d) lay the foundations for the creation of a continental customs union at a later stage

e) promote and achieve sustainable and inclusive socio-economic development, gender equality and structural transformation of the States Parties;

f) strengthen the competitiveness of the economies of the States Parties in the continental and world market.

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2. Specific Objectives

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This agreement establishes that the States parties, for the fulfilment and achievement of the general objectives of the agreement, shall:

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a) progressively eliminate tariff and non-tariff barriers to trade in goods;

b) progressively liberalize trade in services

c) cooperate on investment, intellectual property rights and competition policy;

d) co-operate in all areas related to trade;

e) co-operate in customs matters and in the implementation of trade facilitation measures;

f) establish a mechanism for the settlement of disputes related to their rights and obligations;

g) establish and maintain an institutional framework for the implementation and administration of the AfCFTA.

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3. Institutional Framework for the Implementation of AfCFTA

 

The institutional framework for the implementation, administration, facilitation, monitoring and evaluation of the AfCFTA comprises:

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a) the Conference;

b) the Council of Ministers;

c) the Committee of Senior Trade Officials; and

d) the Secretariat.

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4. Protocols, Annexes and Appendices

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The protocols on trade in goods, trade in services, investment, intellectual property rights, competition policy, rules and procedures for the settlement of disputes and their respective Annexes and Appendices shall form an integral part of the Agreement once adopted.

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5. Date of entry into force

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Resolution 19/2022 came into force on the date of its publication, 30 December 2022