• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

AU Ministers of Trade report progress in African Continental Free Trade Area (AfCFTA) negotiations

MSME Africa by MSME Africa
October 29, 2020
in Africa, Business, News, Trade
0
Ebrahim Patel

Ebrahim Patel

Share

The 12th Meeting of the African Union Ministers of Trade (AMOT) took place virtually on 27 October 2020 with the participation of 38 African Union Member States

Just short of one month after assuming Chairship of the African Union Ministers of Trade, South Africa’s Minister of Trade, Industry and Competition, Ebrahim Patel has chaired his second meeting of the Ministerial negotiating body with the aim of finalising the key aspects of the outstanding AfCFTA negotiations to enable the start of preferential trade on 1 January 2021.

The 12th Meeting of the African Union Ministers of Trade (AMOT) took place virtually on 27 October 2020 with the participation of 38 African Union Member States.

Ministers noted significant progress in the finalisation of additional Rules of Origin following the adoption of a priroitised work programme and roadmap for the outstanding neotiations by the 11th AMOT held on 30 September 2020 to facilitate the start of preferential trade under the AfCFTA.

It is expected that further substantive progress will be made in the conclusion of additional outstanding chapters on Rules of Origin in the next round of negotiations in an effort to unlock and finalise commercially and mutually beneficial tariff offers. In considering outstanding Rules of Oigin, Minister Patel emphasised the importance of concluding Rules that promote and enhance a “Made in Africa, Grown in Africa, Designed in Africa” approach.

“It is important that we seek to ensure that agreed Rules of Origin promote and support local production and value addition in Africa. Our Rules, therefore, should not be designed to benefit third parties” said Minister Patel.

Also participating in the 12th AMOT, Deputy Minister Nomalungela emphaised that “ Rules of Origin should incentivise the expansion of Africa’s manufacturing capacity, including the development of supply chains and maximum value addition within the Continent. These rules must serve to spur increased investment in local African productive capacity and job creation”

Ministers further emphasised the need for State Parties to the AfCFTA Agreement to prioritise the finalisation and submission of tariff offers on the basis of the agreed Rules of Origin. The importance of ratification by AU member states to enhance inclusiveness in preferential trade under the AfCFTA was again encouraged.

Minister Patel acknowledged that the spirit of consensus building in the AfCFTA negotiations would contribute to successful deliverables for the Extra-ordinary Summit.

Minister Patel also noted the series of focused meetings of the negotiations and implementaion structures to be held during the month of November 2020 to ensure that the necessary prequisties for trade are in place to support the commencement of preferential trade. These include, amongst others, the consideration of trade in services offers, the finalisation of tariff concessions on the basis of as many agreed Rules of Origin as possible, as well as the finalisation of the necessary customs documentation.

Post Views: 0
Share

Related Posts:

  • Call For Applications: Pulitzer ACE Micro Grants 2025: Up to $3,000 Funding in Africa
    Call For Applications: Pulitzer ACE Micro Grants…
  • AU
    In Wake of COVID-19, African Union to Keep AfCFTA on…
  • Top 15 Social Media Marketing Tools for Nigerian Entrepreneurs
    15 Social Media Management Tools That Will Make Life…
  • The African Continental Free Trade Area (AfCFTA); A key to mitigate the effects of the COVID-19 pandemic in Africa
    The African Continental Free Trade Area (AfCFTA); A…
  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • Nigeria Set to Launch AfCFTA Guided Trade Initiative at Apapa Port
    Nigeria Set to Launch AfCFTA Guided Trade Initiative…
Tags: AfCFTAAfrican Continental Free Trade AreaAfrican UnionEbrahim PatelMSME Africa
Previous Post

Anzisha Prize awards its 2020 Grand Prize to 21-year-old Egyptian entrepreneur

Next Post

AfDB, Partners, announce new Women in Ethics and Compliance in Africa (WECA) Initiative

Next Post
AfDB, Partners, announce new Women in Ethics and Compliance in Africa (WECA) Initiative

AfDB, Partners, announce new Women in Ethics and Compliance in Africa (WECA) Initiative

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • Call for Applications :Tutator Forward Grant for Social Enterprises and NGOs
  • Call For Applications: Atlantic Dialogues Emerging Leaders Program 2025 for Young Professionals (Fully Funded to Rabat, Morocco.)
  • Call For Applications : Sterling Apprenticeship Program (SAP) 2025 for Nigerian OND Graduates and University Students (Internship}
  • Call For Applications: Global Environmental Education Partnership (GEEP) Youth Innovation Challenge 2025
  • Call For Applications: Global Environmental Education Partnership (GEEP) Youth Innovation Challenge 2025

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2024
  • Otabor Osayomore Blessing on Ultimate 2024 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.