Trading under the preferential terms of the African Continental Free Trade Area (AfCFTA) commenced on January 1 2021. The AfCFTA will create a single African market for goods and services covering 1.2 billion people and a combined Gross Domestic Product of US$3 trillion through the progressive elimination of tariffs, the removal of non-tariff barriers, cooperation in customs arrangements and related areas, liberalization of trade in services, and developing African disciplines on Intellectual Property Rights, Investment, Competition and E-Commerce.
Considering the important role of the private sector in this newly established market, the potential of the region, which consolidated market size can attract investments into the region, the ECOWAS Commission is scheduled to implement a range of awareness and capacity building programmes for producers, traders and service suppliers to maximize the opportunities within the AfCFTA.
...