44 countries sign Africa’s trade pact
Representatives of 44 countries out of 55 member countries of the African Union (AU) have signed the African Continental Free Trade Area (AfCFTA) pact in Kigali, Rwanda. government to reconsider the National position on the European Union Economic Partnership Agreement (EPA) vis-a-vis the African Continental Free Trade Agreement (AfCFTA) especially on tariff lines of products on the sensitive/ exclusion list, with a view to ensuring that the EU-EPA is not reintroduced through the AfCFTA’s back door.
The President of the Manufacturers Association of Nigeria (MAN), Dr. Frank Udemba Jacobs yesterday said the federal government should immediately set in motion a process that will enable all stakeholders on the international trade value chain in Nigeria to quickly review the text of the draft AfCFTA agreement and come up with comments on areas that are not in the best interest of the Nigerian economy and sectors.
He also called on the government to consider tariff lines rates along the line of efficiency, sectorial and subsectorial preferences that would be most beneficial to Nigerian businesses under the AfCFTA dispensation, with a view to ensuring that the EU-EPA is not reintroduced through the AfCFTA’s back door.