ACBF an AU Agency to Cement Implementation of the AFCFTA Agreement at a Summit from 18 to 19 November
November 13, 2020
By Nevson Mpofu
Africa Capacity Building Foundation a specified agency of the African Union is running an on-line virtue Summit from 18 to 19 November this month. The 7th African Think-Tank Summit is under the theme,’’ Implementing the African Continental Free Trade Area agreement, assessing the readiness of countries and implications for capacity building’’.
Communicating to the Pan-African-Visions, Media and Communications Expert Ntsiuoa Sekete of ACBF points out that the summit is already under way in terms of its advanced stage. The alacrity of the program is witnessed by past ACBF successful summits and conferences. One of these was in 2017 when 44 countries implemented the agreement.
According to the Executive Secretary Professor Emmanuel Nnuadozie , ACBF must move on with set instrumental mechanisms meant to see the succession of the agreements which must buttress economic outcome.
In cementation to the coming summit Speaking from Abuja at the 25th Anniversal celebration of Afrexim , African Export and Import Bank conference in 2017 , Professor Emmanuel Nnuadozie said major milestones in trajectory of development in Africa should be given urgent attention so that it provides benefits for the continent as a whole .
‘’Implementation of the agreement is important and benefit for all Africa in terms of trade and Commerce. Let us move on as Africa. We therefore need to sign, ratify and implement so that we receive fruits of success from the programs under AFCFTA.’’
‘’I t is duty of the Africa Capacity Building Foundation to move on with the agenda for implementation. It however calls attention of African countries to take effort and dedication in the whole process. Let us promote partnerships of stakeholders. There-fore the private sector and the Governments of African States stands vital in unity of purpose for economic development, ‘’ notes Professor Nnadozie, he noted.
A special focus was given on the progress and success of the African Growth and Opportunities Act. This act looks at duty free exports to the USA. The main objective in line with this act is to deepen principles based on free trade agreements at continental level for economic growth. Pan-African-Visions has confirmed its invitation to the summit run on a virtual platform.
African Growth and Opportunities Act provides eligible Sub-Saharan-African countries with duty-free access to the US market for over 1,800 products in addition to the more than 5000 products that are eligible for duty free access under the generalized system of preferences program.
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