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Fostering investment and inclusivity in Africa’s Continental Free Trade Area

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Listed:
  • Larabi Jaïdi
  • Bruce Byiers
  • Saloi El Yamani

Abstract

As the African Continental Free Trade Area (AfCFTA) enters its fifth year, the rules of origin for trade in goods are still being finalised, but the institutional architecture is nearly complete with increased capacity, technical committees and new supporting instruments. Despite this progress in AfCFTA ‘policy supply’, meaningful trade under the AfCFTA is still to begin. For this to happen, there must be ‘policy demand’ from the private sector to use the agreement’s range of protocols in shaping their investment and trade decisions and relations. Private sector engagement has so far varied across member states, with some demonstrating robust integration of business feedback while others lag in private sector consultation and involvement. Recommendations focus on enhancing private sector engagement and thus the use and impact of the AfCFTA through: - Increased awareness and practical application of AfCFTA protocols. - Sector-specific support aligned with AfCFTA’s goals. - Strengthening the roles of AU, RECs and the AfCFTA secretariat in national strategy alignment. - Promoting regional value chains with strategic financing and partnerships. - Improving the investment climate to facilitate cross-border trade and investment. Ultimately, AfCFTA’s success depends on robust implementation, dynamic private sector involvement and tailored strategies to meet diverse economic needs across Africa.

Suggested Citation

  • Larabi Jaïdi & Bruce Byiers & Saloi El Yamani, 2024. "Fostering investment and inclusivity in Africa’s Continental Free Trade Area," Policy briefs on Trade Dynamics and Policies 2403, Policy Center for the New South.
    • Handle: RePEc:ocp:pbtrad:afcfta_5_24
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    File URL: https://www.policycenter.ma/sites/default/files/2024-05/BN%20182%20AfCFTA%20investment%20RVCs%20and%20Inclusion.pdf
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    References listed on IDEAS

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    1. Lant Pritchett & Mary Hallward-Driemeier, 2010. "How Business is Done and the 'Doing Business' Indicators: The Investment Climate when Firms have Climate Control," CID Working Papers 211, Center for International Development at Harvard University.
    2. Ana Paula Cusolito & Raed Safadi & Daria Taglioni, 2016. "Inclusive Global Value Chains," World Bank Publications - Books, The World Bank Group, number 24910.
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