Eritrea Africa Free Trade Agreement

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    The Kigali Summit identified areas of convergence in the areas of trade protocols, dispute settlement procedures, customs cooperation, trade facilitation and rules of origin. This was part of Phase I of the agreement, which includes the liberalisation of goods and services. An agreement was also reached to reduce tariffs to 90% of all goods. Each nation may exclude 3% of the goods from this Agreement. [25] After the Kigali summit, more signatures were added for the AfCFTA. At the African Union summit in Nouakchott on 1 July 2018, five other nations, including South Africa, joined the agreement. Kenya and Ghana were the first nations to ratify the agreement and deposit their ratifications on 10 May 2018. [2] Of the signatories, 22 had to ratify the agreement in order for it to enter into force, and this was done on 29 April 2019, when both Sierra Leone and the Sahrawi Arab Democratic Republic ratified the agreement. [7] As a result, the agreement entered into force 30 days later, on May 30, 2019; At that time, only Benin, Nigeria and Eritrea had not yet signed. Outstanding issues, such as trade concessions and rules of origin, are still under negotiation. [When? ] Ratification and filing of the necessary documents are highest at the AU. The other class is the signing of the agreement and the level of non-commitment is the one that has not even registered yet. As of July 2019, 54 of the 55 African Union states had signed the agreement, with Eritrea being the only country not to sign the agreement.

    Of these Member States, 27 have deposited their instruments of ratification. However, East African Community (EAC) members such as Kenya (not Ethiopia) currently impose high external tariffs on imports of Ethiopian products, although both countries are members of the Common Market for Eastern and Southern Africa (COMESA) regional grouping. This is because Ethiopia has not yet joined Comesa and, as a result, tariffs on bilateral trade remain relatively high. A similar problem concerns trade between Rwanda and Uganda with the neighbouring Democratic Republic of Congo (DRC) – all COMESA members, but the Democratic Republic of Congo has not yet joined the free trade agreement. At the summit, Benin and Nigeria signed the agreement, so Eritrea is the only African state not to be part of the agreement; Since then, Eritrea has applied for accession to the agreement. . . .