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X-ORIGINAL-URL:https://www.foretiafoundation.org/staging/
X-WR-CALNAME:Denis & Lenora Foretia Foundation | Catalyzing Africa's Economic Transformation
X-WR-CALDESC:Catalyzing Africa's Economic Transformation
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DTSTART;TZID=UTC:20240125T100000
DTEND;TZID=UTC:20240125T140000
DTSTAMP:20231222T163100
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CREATED:20231222
LAST-MODIFIED:20240112
PRIORITY:5
TRANSP:OPAQUE
SUMMARY:Paving the Way for a Successful Implementation of the AFCFTA
DESCRIPTION:WORKING GROUP ON AFCFTA IMPLEMENTATION IN CAMEROON\nPaving the Way for a Successful Implementation of the AFCFTA\nDate: January 25, 2023\nTime: 10:00 am – 2:00 pm (GMT+1)\nVenue: Muna Foundation\nBackground\nOn June 3, 1991, Heads of States and Governments of the Organization for African Unity (OAU) adopted the Abuja Treaty establishing the African Economic Community (AEC). This treaty made Africa’s Regional Economic Communities (RECs) the cornerstone of greater integration, leading to the creation of an African Economic Community. Article 88 of the Abuja Treaty states that “the basis of the African Economic Community is the progressive integration of the RECs activities with the establishment of full continental economic integration as the ultimate objective towards which the activities of the RECs should be directed”. The African Continental Free Trade Area (AfCFTA), which was enforced in January 2021, marked a decisive turning point in this process. It aims to boost intra-African trade, foster economic integration. and promote sustainable development across the continent. With the potential to create the world’s largest free trade area, the AfCFTA also represents a unique opportunity for African nations to boost their economies and improve on the livelihood of their citizens. However, a difficult puzzle lies in the fact that some countries belong to several existing RECs. These have a variety of objectives and numerous treaties and protocols governing interstate relations, which overlap and create a degree of confusion. In other words, the fact that some countries belong to more than one REC that were created to act as catalysts for the successful implementation of the AfCFTA is today a major obstacle to its implementation. Other factors such as rules of origin, the application of the common external tariff, and the duplication and sometimes competition from certain activities also pose challenges to the implementation of the AfCFTA. As a result, the Nkafu Policy Institute of the Denis & Lenora Foretia Foundation is organizing a stakeholder meeting on the theme: “Paving the Way for a Successful Implementation of the AfCFTA” to address these challenges and provide policymakers and other stakeholders with possible pathways.\nObjective\nBy examining the role of the RECs in advancing the AfCFTA agenda on the continent, this discussion will shed light on how each country can leverage this opportunity to unlock economic growth, foster regional cooperation, and ultimately shape the future of trade relations across the continent. In particular, the stakeholder meeting will address the following issues:\n\nThe role and responsibilities of RECs in advancing the implementation of the AfCFTA.\nChallenges and opportunities faced by RECs as building blocks for the implementation of the AfCFTA.\nThe role that think tanks can play in advancing the implementation of the AfCFTA and its sustainability.\n\nExpected Outcomes\nIncreased awareness and understanding of the role that REC can play in driving the AfCFTA and identification of concrete actions and policy recommendations to position them as key players in accelerating the implementation of the AfCFTA\nTarget audience\nThe meeting will bring together 20 participants, including think tank leaders, policymakers, representatives of regional economic communities, customs officials, and representatives of civil society organizations.\nContact details\nEmail: info@foretiafoundation.org / Tel: (+237) 654 86 72 54\n\n
URL:https://www.foretiafoundation.org/staging/event/paving-the-way-for-a-successful-implementation-of-the-afcfta/
ORGANIZER;CN=Nkafu Policy Institute:MAILTO:info@foretiafoundation_org
LOCATION:Muna Foundation
ATTACH;FMTTYPE=image/png:https://www.foretiafoundation.org/staging/wp-content/uploads/2023/12/BANNER-AFCTA-english-2-1.png
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