Home | Goldstreet Business
Tuesday, January 19, 2021
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
Gold Business Logo
No Result
View All Result
Home Business

No timelines in place for AfCFTA’S delayed take-off

… as today marks planned start of duty free trading

July 1, 2020
in Business, News, Top Stories
0
No timelines in place for AfCFTA’S delayed take-off
Share on FacebookShare on Twitter

Despite the commitment made to implement Africa Continental Free Trade Area (AfCFTA) despite the outbreak of Coronavirus (COVID-19) which postponed indefinitely the 1st July commencement date, no strategic timelines for start of duty free trading among member states  have been made official.

Today should have been an historic day on the African continent regarding the implementation of the world’s largest free trade zone –AfCFTA. However, with the outbreak of the COVID-19 pandemic, African Governments are now engaged in fighting to curb the spread of the disease, with their efforts necessarily focused largely on restrictions on cross border movement.

RELATED POSTS

Decision To Reopen Basic Schools Long Overdue – GNAT

President Akufo-Addo opens 72nd New Year School today

Currently, the decision on the start of trading under AfCFTA is still being considered by the Assembly of Heads of State of the African Union (AU).

Most business activities that were severely impacted with disease were forced to reschedule to the latter part of the year in anticipation of full business recovery.

A number of trade groups have already urged the AU Commission and the AfCFTA Secretariat to consider implementing the agreement next year. However, some industry analysts are also of the view that with the systematic opening of some countries borders, it has become imperative to give tentative timelines of AfCFTA’s implementation.

Presently, phase one operational instruments required for the start of trading under the agreement are still awaiting approval by Member States.

The operational instruments include Rules of Origin, which will determine the eligibility of goods to be traded under AfCFTA; modalities such as protection of infant industries; and an online negotiating forum to enable member States spearhead the success of the policy.

The remaining are: an online mechanism for monitoring and elimination of non-tariff barriers and AfCFTA mobile application for businesses including digital payments system for goods and services; a Pan-African payment and settlement system; and dashboard of the AU Trade Observatory, all of which are expected to accelerate the implementation of the agreement.

The COVID-19 global health emergency has led to an unprecedented global economic slowdown, with many anticipating a post-Covid-19 global recession.

For instance, the World Trade Organization (WTO) estimates that world merchandise trade could fall by between 12 percent and 32 percent this year. The United Nations Conference on Trade and Development (UNCTAD) also projects that global Foreign Direct Investment inflows will decline by up to 40 percent in 2020, reaching their lowest level in two decades.

According to a COVID-19 Business Survey conducted by the International Trade Centre (ITC), one in four Micro, Small and Medium-sized Enterprises (MSMEs) reports being at risk of shutting down permanently within the next three months.

“Taken together, these threats to global trade, investment, growth, and employment risk derailing progress towards the UN Sustainable Development Goals”, ITC states.

60

SHARES
facebook Share on Facebook
Twitter Tweet
Follow Follow us
custom Share
custom Share
custom Share
custom Share
custom Share
Source: By Dundas Whigham
Share11TweetShare

Related Posts

Decision To Reopen Basic Schools Long Overdue – GNAT

Decision To Reopen Basic Schools Long Overdue – GNAT

January 19, 2021
Ghana’s economic rebound – the thorny path that lies ahead

President Akufo-Addo opens 72nd New Year School today

January 19, 2021
Buying and Selling Bonds on the Capital Market in Ghana

Exploring Alternative Funding Through Financial Markets

January 18, 2021
Debt level worrying, debt to GDP to hit 80% in 2021 – Moody’s

Debt level worrying, debt to GDP to hit 80% in 2021 – Moody’s

January 18, 2021
New Board for Institute of Directors-Ghana

New Board for Institute of Directors-Ghana

January 18, 2021
Next Post
Domestic forex markets trading to be legalized

Domestic forex markets trading to be legalized

GSB Daily Market Updates for July 2nd

GSB Daily Market Updates for July 2nd

Discussion about this post

Archives

<
January 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
▼
>
MonTueWedThuFriSatSun
    123
45678910
11121314151617
18192021222324
25262728293031
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
     12
3456789
10111213141516
17181920212223
242526272829 
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
    123
45678910
11121314151617
18192021222324
25262728   
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       

RECOMMENDED

Decision To Reopen Basic Schools Long Overdue – GNAT

Decision To Reopen Basic Schools Long Overdue – GNAT

January 19, 2021
Ghana’s economic rebound – the thorny path that lies ahead

LIVESTREAM: President Akufo-Addo addresses the 72nd Annual New Year School

January 19, 2021

MOST VIEWED

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Energy
  • Health
  • Auto
  • International
  • Subscription Form
  • Staff Webmail
  • About Us
  • Contact Us
Call us: +233 24 432 0902 | info@goldstreetbusiness.com

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

No Result
View All Result
  • Homepages
    • Homepage Layout 1
    • Homepage Layout 2
  • World
  • Business
  • Technology
  • Health

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.