The African Union (AU) is covering the role of Customs in the African Free trade Agreement at the XI meeting of the Sub-committee of AU Director Generals of Customs, which took place in Kampala, Uganda, under the banner: “Coming into force of the African Continental Free Trade Area (ACFTA)- Implications for African customs administrators”.
The aim of the meeting was to examine the implications of ACFTA for African administrations, and provide a summary of the work carried out by various groups of experts, considering the recommendations made.
The meeting was attended by Director Generals of Customs from Member States of the AU, Experts from Customs from Regional Economic Communities (REC), Experts from the African Export-Import Bank (AFREXIMBANK) , the United Nations Conference on Trade and Development (UNCTAD) and the General Secretary of the World Customs Organisation (WCO).
The directors taking part stressed what the impact of the ACFTA coming into force would be on the future of the African continent, taking into account that the implementation of this powerful tool would boost trade and inter-African economic development, freeing up the potential of an integrated continent.
It should be pointed out that the Free trade agreement promises to increase inter-African trade by 52% by 2022, to create a better macroeconomic environment for SMEs, which represent over 80% of the companies on the continent, and to contribute to the raising of well-being by 16.1 thousand million dollars, particularly in favour of women and young people, who will benefit from new employment opportunities.
Source: Equatorial Guinea Press and Information Office