The African Continental Free Trade Area Potential Economic Impact And Challenges

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The African Continental Free Trade Area: Potential Economic Impact and Challenges

Mr.Lisandro Abrego,Mr.Mario de Zamaroczy,Tunc Gursoy,Garth P. Nicholls,Hector Perez-Saiz,Jose-Nicolas Rosas
The African Continental Free Trade Area Potential Economic Impact and Challenges Book PDF

Author : Mr.Lisandro Abrego,Mr.Mario de Zamaroczy,Tunc Gursoy,Garth P. Nicholls,Hector Perez-Saiz,Jose-Nicolas Rosas
Publisher : International Monetary Fund
Page : 41 pages
File Size : 47,5 Mb
Release : 2020-05-13
Category : Business & Economics
ISBN : 9781513542379

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The African Continental Free Trade Area: Potential Economic Impact and Challenges by Mr.Lisandro Abrego,Mr.Mario de Zamaroczy,Tunc Gursoy,Garth P. Nicholls,Hector Perez-Saiz,Jose-Nicolas Rosas Pdf

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.

Inclusive Trade in Africa

David Luke,Jamie Macleod
Inclusive Trade in Africa Book PDF

Author : David Luke,Jamie Macleod
Publisher : Routledge
Page : 208 pages
File Size : 41,7 Mb
Release : 2019-04-01
Category : Political Science
ISBN : 9780429684760

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Inclusive Trade in Africa by David Luke,Jamie Macleod Pdf

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.

The African Continental Free Trade Area

World Bank
The African Continental Free Trade Area Book PDF

Author : World Bank
Publisher : World Bank Publications
Page : 161 pages
File Size : 40,9 Mb
Release : 2020-09-28
Category : Political Science
ISBN : 9781464815607

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The African Continental Free Trade Area by World Bank Pdf

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.

Making the African Continental Free Trade Agreement a Success

Albert G. Zeufack,Fulbert Tchana Tchana,Aly Sanoh
Making the African Continental Free Trade Agreement a Success Book PDF

Author : Albert G. Zeufack,Fulbert Tchana Tchana,Aly Sanoh
Publisher : Taylor & Francis
Page : 307 pages
File Size : 47,5 Mb
Release : 2024-04-05
Category : Business & Economics
ISBN : 9781040006023

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Making the African Continental Free Trade Agreement a Success by Albert G. Zeufack,Fulbert Tchana Tchana,Aly Sanoh Pdf

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.

Assessing Regional Integration in Africa V

United Nations Economic Commission for Africa
Assessing Regional Integration in Africa V Book PDF

Author : United Nations Economic Commission for Africa
Publisher : United Nations
Page : 170 pages
File Size : 51,7 Mb
Release : 2012-08-28
Category : Political Science
ISBN : 9789210552783

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Assessing Regional Integration in Africa V by United Nations Economic Commission for Africa Pdf

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.

Economic Development in Africa Report 2021

UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT.
Economic Development in Africa Report 2021 Book PDF

Author : UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT.
Publisher : Unknown
Page : 220 pages
File Size : 41,6 Mb
Release : 2022-01-07
Category : Electronic
ISBN : 9211130042

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Economic Development in Africa Report 2021 by UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT. Pdf

The African Continental Free Trade Area is expected to be a game changer for development ambitions in Africa.

The Effect of Economic Integration on Local and Regional Development

Owen Adams
The Effect of Economic Integration on Local and Regional Development Book PDF

Author : Owen Adams
Publisher : GRIN Verlag
Page : 20 pages
File Size : 41,5 Mb
Release : 2023-06-21
Category : Business & Economics
ISBN : 9783346893864

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The Effect of Economic Integration on Local and Regional Development by Owen Adams Pdf

Essay from the year 2023 in the subject Economics - Industrial Economics, grade: A, , language: English, abstract: This paper examines the effect of economic integration on local and regional development in Africa. It explores the potential benefits, challenges, and opportunities that come with economic integration among African countries. The study acknowledges the importance of economic integration in accelerating growth and development on the continent, and highlights the need for effective national economic frameworks and policies to support regional integration efforts. Economic integration is seen as a blueprint for African countries to reap the benefits of globalization and integration into the global economy. The paper reviews the concept of economic integration, the stages of integration, and the benefits it brings, such as expanded markets, increased efficiency, and economies of scale. However, it also acknowledges the challenges facing economic integration in Africa, including poor governance, low political commitment, and weak institutional frameworks. The paper analyzes the progress of the East African Community (EAC) as an example of regional economic integration and highlights the positive impacts it has had on market access, trade negotiation capacity, transport and communication infrastructure, and the free movement of people and goods. The study concludes that economic integration has the potential to transform the African economic landscape, but the challenges need to be addressed, including addressing corruption, strengthening institutional frameworks, and harmonizing policies. The paper recommends the ratification of the African Continental Free Trade Area (AfCFTA) as a means to accelerate greater integration among African nations and remove barriers to trade and development.

The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model

Mr.Lisandro Abrego,Maria Alejandra Amado,Tunc Gursoy,Garth P. Nicholls,Hector Perez-Saiz
The African Continental Free Trade Agreement Welfare Gains Estimates from a General Equilibrium Model Book PDF

Author : Mr.Lisandro Abrego,Maria Alejandra Amado,Tunc Gursoy,Garth P. Nicholls,Hector Perez-Saiz
Publisher : International Monetary Fund
Page : 32 pages
File Size : 55,6 Mb
Release : 2019-06-07
Category : Business & Economics
ISBN : 9781498314398

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The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model by Mr.Lisandro Abrego,Maria Alejandra Amado,Tunc Gursoy,Garth P. Nicholls,Hector Perez-Saiz Pdf

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.

African Perspectives on Trade and the WTO

World Trade Organization. China Round Table
African Perspectives on Trade and the WTO Book PDF

Author : World Trade Organization. China Round Table
Publisher : Cambridge University Press
Page : 511 pages
File Size : 48,9 Mb
Release : 2016-09-29
Category : Business & Economics
ISBN : 9781107174474

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African Perspectives on Trade and the WTO by World Trade Organization. China Round Table Pdf

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.

The African Continental Free Trade Area

Benjamin Ofori-Amoah
The African Continental Free Trade Area Book PDF

Author : Benjamin Ofori-Amoah
Publisher : Springer
Page : 0 pages
File Size : 42,7 Mb
Release : 2024-07-19
Category : Social Science
ISBN : 3031591801

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The African Continental Free Trade Area by Benjamin Ofori-Amoah Pdf

In March of 2018, 44 African countries signed the African Continental Free Trade Area agreement (AfCFTA) to launch what is considered as the largest free trade area in the world. The signing of the agreement has been hailed as a major breakthrough for African development by African countries and organizations as well as external observers of African affairs. This is not the first time African countries have proposed a new organizational and institutional structure for development. African countries have signed at least 13 regional trade agreements (RTAs) for intraregional trade since 1959. However, the track record of these groups has been relatively mediocre compared to RTAs elsewhere. Thus, Africa has the lowest percentage of intracontinental trade in the world. This volume evaluates the prospects and challenges for the AfCFTA through a deep-dive assessment of previous trade blocs on the African continent and of regional free trade areas in other parts of the world. The central question of the book is this: If pre-AfCFTA trade blocs in Africa did not encourage more intracontinental trade, what guarantees that the AfCTA will? The formation of the AfCFTA will definitely remove overlapping membership that existed with previous trading blocs on the continent, but what is different about the AfCFTA that will get rid of cumbersome regulation, boost manufacturing, and create jobs? This book argues that the dreams of AfCFTA will not be realized unless African countries make efforts to address the industry mix of their economies and to enforce the rules and regulations they set down on paper.

Unlocking Africa's Business Potential

Landry Signe
Unlocking Africa s Business Potential Book PDF

Author : Landry Signe
Publisher : Brookings Institution Press
Page : 361 pages
File Size : 46,5 Mb
Release : 2020-04-07
Category : Business & Economics
ISBN : 9780815737391

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Unlocking Africa's Business Potential by Landry Signe Pdf

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.

Africa-EU Relations and the African Continental Free Trade Area

Leon Mwamba Tshimpaka,Samuel Ojo Oloruntoba
Africa EU Relations and the African Continental Free Trade Area Book PDF

Author : Leon Mwamba Tshimpaka,Samuel Ojo Oloruntoba
Publisher : Palgrave Macmillan
Page : 0 pages
File Size : 47,8 Mb
Release : 2024-07-08
Category : Social Science
ISBN : 3031579917

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Africa-EU Relations and the African Continental Free Trade Area by Leon Mwamba Tshimpaka,Samuel Ojo Oloruntoba Pdf

This book examines the establishment and implementation of the AfCFTA, which is the largest free trade area globally, covering 54 African countries. It explores how this initiative has the potential to reshape Africa-EU relations by promoting intra-African trade, economic integration, and diversification, as well as inter-regional trade. Both continents have potential to serve as global actors in reshaping the global order in ways that can affect how multilateralism foster inclusive development. However, whether this will happen would be a function of how the EU and AU define their interests and relationship.

Our Continent, Our Future

P. Thandika Mkandawire,Charles Chukwuma Soludo
Our Continent Our Future Book PDF

Author : P. Thandika Mkandawire,Charles Chukwuma Soludo
Publisher : IDRC
Page : 192 pages
File Size : 46,9 Mb
Release : 2014-05-14
Category : Political Science
ISBN : 9781552502044

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Our Continent, Our Future by P. Thandika Mkandawire,Charles Chukwuma Soludo Pdf

Our Continent, Our Future presents the emerging African perspective on this complex issue. The authors use as background their own extensive experience and a collection of 30 individual studies, 25 of which were from African economists, to summarize this African perspective and articulate a path for the future. They underscore the need to be sensitive to each country's unique history and current condition. They argue for a broader policy agenda and for a much more active role for the state within what is largely a market economy. Finally, they stress that Africa must, and can, compete in an increasingly globalized world and, perhaps most importantly, that Africans must assume the leading role in defining the continent's development agenda.

Special Economic Zones in Africa

Thomas Farole
Special Economic Zones in Africa Book PDF

Author : Thomas Farole
Publisher : World Bank Publications
Page : 328 pages
File Size : 46,7 Mb
Release : 2011-01-01
Category : Business & Economics
ISBN : 9780821386392

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Special Economic Zones in Africa by Thomas Farole Pdf

"This book, designed for policymakers, academics and researchers, and SEZ program practitioners, provides the first systematic and comprehensive analysis of SEZ programs in Sub-Saharan Africa. It is the result of detailed surveys and case studies conducted during 2009 in ten developing countries, including six in Sub-Saharan Africa. The book provides quantitative evidence of the performance of SEZs, and of the factors which contribute to that performance, highlighting the critical importance not just of the SEZ itself but of the wider national investment climate in which it functions. It also provides a comprehensive guide to the key policy questions that confront governments establishing SEZ programs, including: if and when to launch an SEZ program, what form of SEZ is most appropriate, and how to go about implementing it. Among the most important findings from the study that is stressed in the book is the shift from traditional enclave models of zones to SEZs that are integrated ? with national trade and industrial strategies, with core trade and social infrastructure, with domestic suppliers, and with local labor markets.Although the book focuses primarily on the experience of Sub-Saharan Africa, its lessons will be applicable to developing countries around the world."

Water Supply and Water Scarcity

Vasileios A. Tzanakakis,Nikolaos V. Paranychianakis,Andreas N. Angelakis
Water Supply and Water Scarcity Book PDF

Author : Vasileios A. Tzanakakis,Nikolaos V. Paranychianakis,Andreas N. Angelakis
Publisher : MDPI
Page : 290 pages
File Size : 53,9 Mb
Release : 2020-11-04
Category : Science
ISBN : 9783039433063

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Water Supply and Water Scarcity by Vasileios A. Tzanakakis,Nikolaos V. Paranychianakis,Andreas N. Angelakis Pdf

This Book includes selected papers that has been published in the Water journal Special Issue (SI) on Water Supply and Water Scarcity. Moreover, an overview of the SI is included. The papers selected for publication in the SI include review and research papers on water history, on water management issues under water scarcity regimes, on rainwater harvesting, on water quality and degradation, and on climatic variability impacts on water resources. Overall, the issue identify and highlight the main challenges in water sector, and particularly in management and protection of water resources and in use of alternative (non-conventional) water resources, especially in areas with demographic change and climate vulnerability in order to achieve sustainable and secure water supply. Furthermore, general guidelines and possible solutions for an improved and sophisticated water management system are proposed and discussed, such as the adoption of advanced technological solutions and practices that improve water-use efficiency and the use of alternative water resources, to address the growing environmental and health issues and to reduce the emerging conflicts among water users.