Buhari Establishes Action Committee for AfCFTA

• Buhari Establishes Action Committee for AfCFTA

President Muhammadu Buhari has established a national action committee to commence the implementation of the African Continental Free Trade Area Agreement (AfCFTA).

The president signed AfCFTA agreement in Niger Republic during the 12th Extraordinary Session of the African Union Heads of State held on 7.

In a statement released by Buhari’s Senior Special Assistant on Media and Publicity, Mr Garba Shehu, the presidency said: “The National Action Committee will comprise representatives of ministries and agencies with competent and relevant jurisdiction, and selected stakeholder groups from the private sector and the civil society to coordinate the implementation of all the AfCFTA readiness interventions.

“NAC will upon inauguration, undertake a process of engagement with stakeholders to sensitise them to the opportunities and challenges of AfCFTA, with preparedness plans for Nigerian economy.”

The Presidency gave further details of the step-by-step approach the government had thus far taken on AfCFTA.

It stated, “The report (of the Presidential Assessment Committee) and consultative process raised the bar in engagement by government with stakeholders and set a standard for building support for strategic areas of public policy with clarity on concrete parameters for implementation action.

“The AfCFTA agreement, which creates a single market for goods and services and movement of persons to increase intra-African trade and deepen African economic integration, has Phase I and Phase II negotiations.

“The Phase I negotiations culminated in the agreement establishing AfCFTA, the protocol on trade in goods; protocol on trade in services; and the protocol on the rules and procedures on the settlement of disputes. These were adopted by the African Union Heads of State in Kigali on 21st March 2018. The Phase II negotiations are expected to commence in January 2020 and will cover competition, investment and intellectual property rights.