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| Author | : Mr.Lisandro Abrego |
| Publisher | : International Monetary Fund |
| Total Pages | : 41 |
| Release | : 2020-05-13 |
| Genre | : Business & Economics |
| ISBN | : 1513542370 |
Download The African Continental Free Trade Area: Potential Economic Impact and Challenges Book in PDF, ePub and Kindle
Political momentum towards Africa-wide free trade has been intensifying. In March 2018, over 40 countries signed the African Continental Free Trade Area (AfCFTA) agreement. Once fully implemented, the AfCFTA is expected to cover all 55 African countries, with a combined GDP of about US$2.2 trillion. This SDN takes stock of recent trade developments in Sub-Saharan Africa and assesses the potential benefits and costs of the AfCFTA, as well as challenges to its successful implementation. In addition to increased trade flows both in existing and new products, the AfCFTA has the potential to generate substantial economic benefits for African countries. These benefits include higher income arising from increased efficiency and productivity from improved resource allocation, higher cross-border investment flows, and technology transfers. Besides lowering import tariffs, to ensure these benefits, African countries will need reduce other trade barriers by making more efficient their customs procedures, reducing their wide infrastructure gaps, and improving their business climates. At the same time, policy measures should be taken to mitigate the differential impact of trade liberalization on certain groups as resources are reallocated in the economy and activities migrate to locations with comparatively lower costs.
| Author | : Mr.Lisandro Abrego |
| Publisher | : International Monetary Fund |
| Total Pages | : 32 |
| Release | : 2019-06-07 |
| Genre | : Business & Economics |
| ISBN | : 1498314392 |
Download The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model Book in PDF, ePub and Kindle
In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and services and is expected to eventually cover all African countries. Using a multi-country, multi-sector general equilibrium model based on Costinot and Rodriguez-Clare (2014), we estimate the welfare effects of the AfCFTA for 45 countries in Africa. Three different model specifications—comprising both perfect competition and monopolistic competition—are used. Simulations include full elimination of import tariffs and partial but substantial reduction in non-tariff barriers (NTBs). Results reveal significant potential welfare gains from trade liberalization in Africa. As intra-regional import tariffs in the continent are already low, the bulk of these gains come from lowering NTBs. Overall gains for the continent are broadly similar under the three model specifications used, with considerable variation of potential welfare gains across countries in all model structures.
| Author | : |
| Publisher | : UN |
| Total Pages | : 166 |
| Release | : 2012 |
| Genre | : Africa |
| ISBN | : |
Download Assessing Regional Integration in Africa V Book in PDF, ePub and Kindle
The fifth of the series (ARIA/V) has come at a time of renewed enthusiasm for shortening the period of the vision of the Abuja Treaty. Its overall objective is to provide an analytical research publication that defines frameworks for African Governments, the African Union and the Regional Economic Communities, towards accelerating the establishment of the African Common Market through: the speedy removal of all tariff and non-tariff barriers, obstacles to free movement of people, investments and factors of production in general across Africa, and through fast-tracking the creation of an African continental Free Trade Area
| Author | : UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT. |
| Publisher | : |
| Total Pages | : 220 |
| Release | : 2022-01-07 |
| Genre | : |
| ISBN | : 9789211130041 |
Download Economic Development in Africa Report 2021 Book in PDF, ePub and Kindle
The African Continental Free Trade Area is expected to be a game changer for development ambitions in Africa.
| Author | : David Luke |
| Publisher | : Routledge |
| Total Pages | : 208 |
| Release | : 2019-04-01 |
| Genre | : Political Science |
| ISBN | : 0429684762 |
Download Inclusive Trade in Africa Book in PDF, ePub and Kindle
Providing the first book-length analysis of the African Continental Free Trade Area (AfCFTA), this volume asks how can it be ensured that the AfCFTA is effectively implemented to deliver inclusive trade in Africa. The African Continental Free Trade Area (AfCFTA) will cover an African market of 1.2 billion people and GDP of over $2.5 trillion, across all 55 member States of the African Union. Yet, trade policy increasingly appreciates that free trade is not enough; trade must also be inclusive to deliver developmental benefits. With contributions from leading trade policy authors across Africa and beyond, this book offers insights into the development and implementation of the AfCFTA and serves as a reference for stakeholders interested in trade in Africa more broadly. The contributors assess what important lessons can be drawn from the experiences of regional integration in and beyond Africa, including from success stories like ASEAN as well as from failures like the Free Trade Agreement of the Americas. An important new work for researchers and policymakers focusing on African trade and economic policy, and trade policy more generally.
| Author | : World Bank |
| Publisher | : World Bank Publications |
| Total Pages | : 161 |
| Release | : 2020-09-28 |
| Genre | : Political Science |
| ISBN | : 1464815607 |
Download The African Continental Free Trade Area Book in PDF, ePub and Kindle
The African Continental Free Trade Area (AfCFTA) agreement will create the largest free trade area in the world, measured by the number of countries participating. The pact will connect 1.3 billion people across 55 countries with a combined GDP valued at $3.4 trillion. It has the potential to lift 30 million people out of extreme poverty by 2035. But achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures. The scope of the agreement is considerable. It will reduce tariffs among member countries and cover policy areas, such as trade facilitation and services, as well as regulatory measures, such as sanitary standards and technical barriers to trade. It will complement existing subregional economic communities and trade agreements by offering a continent-wide regulatory framework and by regulating policy areas—such as investment and intellectual property rights protection—that have not been covered in most subregional agreements. The African Continental Free Trade Area: Economic and Distributional Effects quantifies the long-term implications of the agreement for growth, trade, poverty reduction, and employment. Its analysis goes beyond that in previous studies that have largely focused on tariff and nontariff barriers in goods—by including the effects of services and trade facilitation measures, as well as the distributional impacts on poverty, employment, and wages of female and male workers. It is designed to guide policy makers as they develop and implement the extensive range of reforms needed to realize the substantial rewards that the agreement offers. The analysis shows that full implementation of AfCFTA could boost income by 7 percent, or nearly $450 billion, in 2014 prices and market exchange rates. The agreement would also significantly expand African trade—particularly intraregional trade in manufacturing. In addition, it would increase employment opportunities and wages for unskilled workers and help close the wage gap between men and women.
| Author | : Landry Signe |
| Publisher | : Brookings Institution Press |
| Total Pages | : 361 |
| Release | : 2020-04-07 |
| Genre | : Business & Economics |
| ISBN | : 0815737394 |
Download Unlocking Africa's Business Potential Book in PDF, ePub and Kindle
Africa welcomes business investment and offers some of the world's highest returns and impacts Africa has tremendous economic potential and offers rewarding opportunities for global businesses looking for new markets and long-term investments with favorable returns. Africa has been one of the world's fastest-growing regions over the past decade, and by 2030 will be home to nearly 1.7 billion people and an estimated $6.7 trillion worth of consumer and business spending. Increased political stability in recent years and improving regional integration are making market access easier, and business expansion will generate jobs for women and youth, who represent the vast majority of the population. Current economic growth and poverty-alleviation efforts mean that more than 43 percent of the continent's people will reach middle- or upper-class status by 2030. Unlocking Africa's Business Potential examines business opportunities in the eight sectors with the highest potential returns on private investment—the same sectors that will foster economic growth and diversification, job creation, and improved general welfare. These sectors include: consumer markets, agriculture and agriprocessing, information and communication technology, manufacturing, oil and gas, tourism, banking, and infrastructure and construction. The book's analysis of these sectors is based on case studies that identify specific opportunities for investment and growth, along with long-term market projections to inform decision-making. The book identifies potential risks to business and offers mitigation strategies. It also provides policymakers with solutions to attract new business investments, including how to remove barriers to business and accelerate development of the private sector.
| Author | : Albert G. Zeufack |
| Publisher | : Taylor & Francis |
| Total Pages | : 307 |
| Release | : 2024-04-05 |
| Genre | : Business & Economics |
| ISBN | : 1040006027 |
Download Making the African Continental Free Trade Agreement a Success Book in PDF, ePub and Kindle
In 2019, African heads of state and governments launched in fanfare the African Continental Free Trade Agreement (AfCFTA), a historic agreement for economic transformation across the continent. But now comes the hard bit: how to make the agreement a success? In this book, senior experts from across the world come together to provide a comprehensive analysis of the conditions needed for AfCFTA to successfully spur economic development in Africa. It puts forward three foundations for success: demography dividend, digital economy, and economic diversification. In addition to trade policy, the book recommends that African policymakers should strengthen fiscal and monetary policy coordination, adopt and implement the appropriate regulatory environment, and build suitable connectivity infrastructure. The stakes are high. If implemented correctly, the book argues that AfCFTA could speed up trade within Africa, which could double every five years. Success would mean growth, investment, changing trade patterns, jobs, economic transformation, poverty reduction, and a continental market for services. Driven by concrete, evidence-based strategies for long-term growth, this book is an essential read for policy makers, development practitioners, economics researchers, and everyone with an interest in the future of Africa.
| Author | : United Nations Economic Commission for Africa |
| Publisher | : United Nations |
| Total Pages | : 170 |
| Release | : 2012-08-28 |
| Genre | : Political Science |
| ISBN | : 9210552784 |
Download Assessing Regional Integration in Africa V Book in PDF, ePub and Kindle
This publication comes at a time of renewed enthusiasm for shortening the period of the vision of the Abuja Treaty. The publication's overall objective is to provide analytical research that defines frameworks for African governments, the African Union and the Regional Economic Communities, towards accelerating the establishment of the African Common Market through: the speedy removal of all tariff and non-tariff barriers, obstacles to free movement of people, investments and factors of production in general across Africa, and through fast-tracking the creation of an African continental Free Trade Area.
| Author | : World Trade Organization. China Round Table |
| Publisher | : Cambridge University Press |
| Total Pages | : 511 |
| Release | : 2016-09-29 |
| Genre | : Business & Economics |
| ISBN | : 1107174473 |
Download African Perspectives on Trade and the WTO Book in PDF, ePub and Kindle
Twenty-first-century Africa is in a process of dynamic economic transformation. However, challenges remain in areas such as structural reform, governance, market turbulence, commodity pricing, and geopolitics. There is a critical need for African economies to assess growth models and strategies to foster increased, sustained, and inclusive growth. The book contributes to contemporary debate on key questions facing the continent, such as: How can Africa achieve deeper integration into the rules-based multilateral trading system and the global economy? What approaches and next steps are possible, according to economic and trade policymakers? What supportive roles can multilateral and regional institutions play? This volume is a product of the Fourth China Round Table, which took place during the WTO's Tenth Ministerial Conference, held in Kenya in December 2015. Supported by independent expert analyses, the book proposes a range of African perspectives on the role of trade, the WTO, and its future agenda.
