This report is taken directly from the source cited and does not necessarily reflect or indicate the position of the American Chamber of Commerce, Kenya
By Hippolyte Fofack - Chief Economist and Director of Research and International Cooperation - African Export-Import Bank
The African Continental Free Trade Agreement (AfCFTA) has been touted as an economic and globalization game changer because it has the potential to transform African economies and significantly raise Africa’s share of global trade to position the region as an increasingly dynamic force in the international arena.
However, to realize this potential, African countries must actively carry out complementary structural and policy reforms to foster long-term peace and security, address the supply-side constraints, and mitigate the short-term fiscal adjustment costs of the trade agreement to set the continental trade-integration project on a successful implementation path for a win-win continental trade-integration outcome.
This paper reviews the potential development impact of the AfCFTA and provides a comprehensive analysis of reforms and programs required to ensure the agreement’s successful implementation.
Download the full working paper
Source: Brookings Institute
