Presidential Panel Recommends Signing of AfCFTA

By June 28, 2019 Investment News

A presidential committee on impact and readiness assessment of the African Continental Free Trade Area (AfCFTA) has recommended the signing of the agreement.

The African Union’s Heads of State and Governments had resolved to establish AfCFTA to create a single continental market for goods and services in member nations.

The agreement covers trade in goods, services, investment, and rules and procedures on dispute settlement, including a range of provisions to facilitate trade, reduce transaction costs, provide exceptions, flexibilities and safeguards for vulnerable groups and countries in challenging circumstances.

The recommendation was contained in a report presented to President Muhammadu Buhari at the Presidential Villa, Abuja.

Presenting the report, chairman of the committee, Mr. Desmond Obadiah, said Nigeria should consider signing the agreement. He said the committee which was constituted last year, reviewed over 200 submissions from various stakeholders, before recommending for the signing of the treaty. Responding, the president said the government will look into the recommendations of the panel.

Source: Dailytrust