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Afrochampions Initiative on the operationalization of the AfCFTA amid COVID-19
In the wake of the COVID-19 pandemic, the African Continental Free Trade Agreement (AfCFTA) was postponed by six months but should the African Union and have gone on to operationalize the trade deal? Edem Adzogenu, Co-Founder of the Afrochampions Initiative joins CNBC Africa for more.
Tue, 08 Sep 2020 10:13:53 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The significant role of the private sector in supporting the implementation of the AfCFTA amidst COVID-19 challenges.
- The effects of the pandemic on demand destruction and the urgency to accelerate the AfCFTA for economic recovery.
- The necessity for collective market operations to advance negotiations and enhance Africa's competitive stance in global trade agreements.
In the wake of the COVID-19 pandemic, the Africa Continental Free Trade Area Agreement was postponed by six months, but questions linger on whether the AU could have gone ahead to operationalize the trade deal sooner. The co-founder of Afro Champions Initiative, Edem Adzogenu, sheds light on the critical aspects of the operationalization of the African Continental Free Trade Agreement amid the ongoing health crisis. The discussion delves into the impact of the pandemic on the acceptance of the AfCFTA, the potential for the acceleration of the trade deal to aid in economic recovery, and the significance of collective market operations within the continent. Adzogenu emphasizes the need for collaborative efforts to leverage the benefits of the AfCFTA for the private sector and economies across Africa. The key theme revolves around the implications of COVID-19 on trade agreements and the imperative for swift action to harness the potential of the AfCFTA for post-pandemic economic rejuvenation. As the continent navigates the challenges posed by the global health crisis, the AfCFTA emerges as a vital tool for enhancing economic resilience and promoting intra-African trade.
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