According to Jean-Guy Afrika, the Chief Regional Funds Coordinator at the African Development Bank Group, the pace of ratification by the African Union (AU) has been unprecedented in its history, marking it an outstanding achievement. Out of the 55 AU member states, 54 signed and 34 have ratified the agreement.
But before we can report, “all systems go” for AfCFTA, there is much work ahead.
As examples, Afrika draws attention to the outstanding negotiations on trade in goods and services that need to be finalised and converted into national customs measures and procedures. Trade documents such as Certificate of Origin need to be distributed to hundreds of AfCFTA border points.