Get to know AFCFTA agreement, Africa’s single market

[Field Marshal Jay]

African countries began officially trading under a new continent-wide free trade area on 1st of January 2021.
The African Continental Free Trade Area (AfCFTA) aims to bring together 1.3 billion people in a $3.4 trillion economic bloc that will be the largest free trade area since the establishment of the World Trade Organization.
Every African country except Eritrea has signed on to the AfCFTA framework agreement, and 34 have ratified it. But observers such as W Gyude Moore – a former Liberian minister who is now a senior fellow at the Center for Global Development – say the real work begins now.

In simple terms this trade agreement will ease the movement of goods for example Somalia can easily export her goods to Rwanda with little restriction.
The agreement is also expected to create new job opportunities, increase Africa’s capacity in negotiating business terms with foreign investors and many other benefits that came along with having a bigger market .

experts predicts East African countries and Southern African countries to be the main beneficiaries of this agreement, this is mainly due to an already existing transport and trading infrastructure.

 

[Rooble44]

African countries began officially trading under a new continent-wide free trade area on 1st of January 2021.
The African Continental Free Trade Area (AfCFTA) aims to bring together 1.3 billion people in a $3.4 trillion economic bloc that will be the largest free trade area since the establishment of the World Trade Organization.
Every African country except Eritrea has signed on to the AfCFTA framework agreement, and 34 have ratified it. But observers such as W Gyude Moore – a former Liberian minister who is now a senior fellow at the Center for Global Development – say the real work begins now.

In simple terms this trade agreement will ease the movement of goods for example Somalia can easily export her goods to Rwanda with little restriction.
The agreement is also expected to create new job opportunities, increase Africa’s capacity in negotiating business terms with foreign investors and many other benefits that came along with having a bigger market .

experts predicts East African countries and Southern African countries to be the main beneficiaries of this agreement, this is mainly due to an already existing transport and trading infrastructure.

How can one exploit this?

 

[butANumba]

How can one exploit this?

Sugar is expensive in many African countries. We could definitely fire up them jowhar factories and start exporting again just like we were before the war.

 

[Ras]

How can one exploit this?

Arbitrage opportunities opened up now with this trade agreement; even more so than the past.

There's also service industries... For example helping Njgerian companies trade in East Africa. They'll need help with all sorts of workloads like accounting, logistics, marketing etc.

if just 40% of the continent wide GDP is open due to this trade agreement you are now able to play in a 800 billion dollar economy... 100x Somalia's economy...

 

[Field Marshal Jay]

Arbitrage opportunities opened up now with this trade agreement; even more so than the past.

There's also service industries... For example helping Njgerian companies trade in East Africa. They'll need help with all sorts of workloads like accounting, logistics, marketing etc.

if just 40% of the continent wide GDP is open due to this trade agreement you are now able to play in a 800 billion dollar economy... 100x Somalia's economy...

Thank you for this great info.

 

[butANumba]

Arbitrage opportunities opened up now with this trade agreement; even more so than the past.

There's also service industries... For example helping Njgerian companies trade in East Africa. They'll need help with all sorts of workloads like accounting, logistics, marketing etc.

if just 40% of the continent wide GDP is open due to this trade agreement you are now able to play in a 800 billion dollar economy... 100x Somalia's economy...

I see this only benefitting China. Africans like to buy and sell shit they bring from China.

 

[Ras]

I see this only benefitting China. Africans like to buy and sell shit they bring from China.

Previously Chinese importers had a competitive advantage as they and Western multinationals probably we're able to fast track their goods into African countries.

This trade agreement levels the playing field for Africans.

Take the bad with the good. That's the only way people get ahead in life.

 

[Addislad]

African countries began officially trading under a new continent-wide free trade area on 1st of January 2021.
The African Continental Free Trade Area (AfCFTA) aims to bring together 1.3 billion people in a $3.4 trillion economic bloc that will be the largest free trade area since the establishment of the World Trade Organization.
Every African country except Eritrea has signed on to the AfCFTA framework agreement, and 34 have ratified it. But observers such as W Gyude Moore – a former Liberian minister who is now a senior fellow at the Center for Global Development – say the real work begins now.

In simple terms this trade agreement will ease the movement of goods for example Somalia can easily export her goods to Rwanda with little restriction.
The agreement is also expected to create new job opportunities, increase Africa’s capacity in negotiating business terms with foreign investors and many other benefits that came along with having a bigger market .

experts predicts East African countries and Southern African countries to be the main beneficiaries of this agreement, this is mainly due to an already existing transport and trading infrastructure.

What goods does Somalia offer

 

[reer]

What goods does Somalia offer

what do tropical rainforest and tropical savanna countries want from semi arid/arid somalia? not much apart from a coast they wmore likely to turn to kenya.

 

[Pioneer]

This African Single Market if successfully implemented will be greatest achievement
since the independence of African Nations.

May Allaah SXW bless the African Single Market!

 

[Pioneer]

 

[Addislad]

View attachment 163339

Next up SINGLE CURRENCY & OPEN MOVEMENT OF PEOPLE

 

[Royalflush]

trading with a country that has no ratified constitution
they either gonna rob us or our politicians will sell us out like a cheap prostitute

we need some red tape before this so we can monitor and prevent immoral behaviour of big businesses and politicians that want to exploit us

 

[adventurequestworlds1.0.2]

trading with a country that has no ratified constitution
they either gonna rob us or our politicians will sell us out like a cheap prostitute

we need some red tape before this so we can monitor and prevent immoral behaviour of big businesses and politicians that want to exploit us

This also can happen SINGLE CURRENCY & OPEN MOVEMENT OF PEOPLE which is not best for somalis

 

[Royalflush]

This also can happen SINGLE CURRENCY & OPEN MOVEMENT OF PEOPLE which is not best for somalis

i see youve been doing your homework jackie boy

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[adventurequestworlds1.0.2]

i see youve been doing your homework jackie boy

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I just copy paste above comment
I already told my age before why u ask if I may ask

 

[Prime Minister]

This also can happen SINGLE CURRENCY & OPEN MOVEMENT OF PEOPLE which is not best for somalis

Freedom of movement is not required some countries like Morocco, South Africa, Nigeria and Algeria have refused it.

 

[butANumba]

Freedom of movement is not required some countries like Morocco, South Africa, Nigeria and Algeria have refused it.

of course the countries doing well refuse lol

 

[adventurequestworlds1.0.2]

Freedom of movement is not required some countries like Morocco, South Africa, Nigeria and Algeria have refused it.

Doesnt I don't agree with free trade market with non Somalis somali ppl need to control their economic and Ofc corrupt somali government will sell somali lands to non Somali and will let non Somalis control
Like @Royalflush said
trading with a country that has no ratified constitution
they either gonna rob us or our politicians will sell us out like a cheap prostitute

we need some red tape before this so we can monitor and prevent immoral behaviour of big businesses and politicians that want to exploit us

 

[Username]

of course the countries doing well refuse lol

Is Nigeria really doing well? Their people always move to other African countries...