The potential impact of the African Continental Free Trade Area (AfCFTA) on intra-African trade
DOI:
https://doi.org/10.63313/Economics.8012Keywords:
African Continental Free Trade Area, Intra-African Trade, Trade Barriers, Industrial Upgrading, Economic IntegrationAbstract
The process of regional economic integration in Africa is currently lagging behind. The establishment of the African Continental Free Trade Area (AfCFTA) aims to deepen regional economic integration through the liberalisation of regional trade, thereby making it a key driver of economic structural transformation and sustainable development. The AfCFTA has the potential to boost output, trade and welfare across the continent, but there are disparities between different countries and sectors. Weak infrastructure, national concerns regarding potential gains and losses, and trade barriers are the primary reasons hindering the progress of the African Free Trade Area; it is therefore necessary for African nations to adopt targeted measures to advance its development.
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