Protectionist drive may complicate African free trade
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Abstract
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Abstract
Subject West African protectionism. Significance The African Continental Free Trade Area (AfCFTA), an African Union (AU) initiative to create a single market for goods and services throughout the continent, will start trading on July 1. In anticipation, the EU has declared its intention to establish a bicontinental ‘Eurafrican’ free trade area, building upon the AfCFTA. However, the nascent framework faces distinct internal and external threats. Impacts The secretary-general post is a considerable boost for South Africa given the postholder’s role in implementing AfCFTA’s liberalisation. Ghana’s main parties will try to outbid each other for farming support, with resulting protectionist promises, before this year's polls. Intra-African tensions will be heightened by perceived AfCFTA breaches, such as Nigeria’s border closure.
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Subject West African protectionism. Significance The African Continental Free Trade Area (AfCFTA), an African Union (AU) initiative to create a single market for goods and services throughout the continent, will start trading on July 1. In anticipation, the EU has declared its intention to establish a bicontinental ‘Eurafrican’ free trade area, building upon the AfCFTA. However, the nascent framework faces distinct internal and external threats. Impacts The secretary-general post is a considerable boost for South Africa given the postholder’s role in implementing AfCFTA’s liberalisation. Ghana’s main parties will try to outbid each other for farming support, with resulting protectionist promises, before this year's polls. Intra-African tensions will be heightened by perceived AfCFTA breaches, such as Nigeria’s border closure.
Key concepts: Protectionism, Free trade, International trade, Liberalization, International economics, Market access, Free trade agreement, Business