https://en.sputniknews.africa/20240207/what-do-afcftas-tariff-cuts-mean-for-africa--1064968118.html
What Do AfCFTA's Tariff Cuts Mean For Africa?
What Do AfCFTA's Tariff Cuts Mean For Africa?
Sputnik Africa
The African Free Trade Area (AfCFTA) has successfully begun rolling out its tariff cuts on 90% of goods in Africa. How will this move impact trade and... 07.02.2024, Sputnik Africa
2024-02-07T19:42+0100
2024-02-07T19:42+0100
2024-02-07T19:42+0100
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What Do AfCFTA's Tariff Cuts Mean For Africa?
Sputnik Africa
The African Free Trade Area (AfCFTA) has successfully begun rolling out its tariff cuts on 90% of goods in Africa. How will this move impact trade and opportunities on the continent? AfroVerdict host sits down with an economic consultant to get a professional take on the benefits and challenges of this economic policy.
The AfCFTA will "help integrate member countries", due to the fact that "facilitated trade" causes "interdependence" among member states, according to Sylvester Kwesi Dadzie, economic and financial analyst, consultant and researcher.This further creates a conducive environment for "harmonized trade rules and regulations". To achieve such a scenario, countries would have to "overcome barriers to trade" and "communizing policies" in order to attain "integrated and cohesive economic ties" between member states.To hear what else the financial expert had to say, check out the entire episode of the AfroVerdict podcast, brought to you by Sputnik Africa.In addition to the website, you can also catch our episodes on Telegram.► You can also listen to our podcast on Google Podcasts, Apple Podcasts, Castbox, Pocket Casts, Deezer, Podcast Addict and Afripods.► Check out all the episodes of AfroVerdict.
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african continental free trade area (afcfta), economy, cooperation, finance, trade, podcasts, аудио
african continental free trade area (afcfta), economy, cooperation, finance, trade, podcasts, аудио
What Do AfCFTA's Tariff Cuts Mean For Africa?
Viktor Anokhin
Producer, Podcast host
The African Free Trade Area (AfCFTA) has successfully begun rolling out its tariff cuts on 90% of goods in Africa. How will this move impact trade and opportunities on the continent? AfroVerdict host sits down with an economic consultant to get a professional take on the benefits and challenges of this economic policy.
The AfCFTA will "help integrate member countries", due to the fact that "facilitated trade" causes "interdependence" among member states, according to Sylvester Kwesi Dadzie, economic and financial analyst, consultant and researcher.
"Through negotiation and implementation of trade agreements, you can have, as it were, countries to incentivize or motivate [them] to work together towards common economic goals," Mr. Dadzie explains.
This further creates a conducive environment for "harmonized trade rules and regulations". To achieve such a scenario, countries would have to "overcome barriers to trade" and "communizing policies" in order to attain "integrated and cohesive economic ties" between member states.
"Then you can have global competitiveness, as they trade among themselves, and the cost of production goes down because of tariff reduction or tariff liberalization. What it means is that they will be able to compete with the Global North and the Global West," the analyst elaborates.
To hear what else the financial expert had to say, check out the entire episode of the AfroVerdict podcast, brought to you by Sputnik Africa.
In addition to the website, you can also catch our episodes on
Telegram.
► Check out all the episodes of AfroVerdict. 
