The Republic of Cabo Verde has become the forty-first (41st) to deposit the Agreement Establishing the African Continental Free Trade Area (AfCFTA)


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The Republic of Cabo Verde has become the forty-first (41st) State Party to deposit the instrument of ratification of the Agreement Establishing the African Continental Free Trade Area (AfCFTA). On behalf of HE the President, the Office of the Legal Adviser received the instrument from the Secretary of State for Foreign Affairs and Cooperation of Cabo Verde, Miryan Djamila Sena Vieira, Ambassador of Cabo Verde to Nigeria and ECOWAS, Belarmino Silva. The Secretary General of the AfCFTA Secretariat, HE Wamkele Mene, expressed his joy and welcomed Cape Verde as a State Party.

To date, the agreement establishing the AfCFTA has been signed by 54 AU Member States. Forty-one (41) Member States of the African Union are also States Parties to the Agreement by virtue of their deposits of instruments of ratification of the Agreement, demonstrating an unequivocal political will to achieve market integration in Africa . Pursuant to Article 13 of the Agreement Establishing the Agreement Establishing the African Continental Free Trade Area (AfCFTA), the Assembly established the Secretariat of the AfCFTA. The seat of the AfCFTA Secretariat is Ghana, Accra.

Under the AfCFTA, African countries have collectively committed to substantially liberalize all trade by eliminating tariffs on 97% of tariff lines – over a period of 13 years from the start of implementation. So far, the AfCFTA Secretariat has submitted 44 countries representing 80% of African Union members with their tariff offers, with Algeria being the latest. With regard to trade in services, to date the Secretariat has received 46 initial offers submitted by States Parties and States not Party, covering the five priority sectors, namely: business services, communication , financial services, tourism and transport. With regard to trade in services, progress has been made in implementing the objectives of the Protocol on Trade in Services. To date, the AfCFTA Secretariat has received 46 initial offers submitted by States and States not party, covering the five priority sectors, namely: business services, communication, financial services, tourism and transport. Some state parties and non-states, namely members of CEMAC, EAC and ECOWAS, have all submitted consolidated offers under this process.

Distributed by APO Group on behalf of the African Union (AU).

This press release was issued by APO. Content is not vetted by the African Business editorial team and none of the content has been verified or validated by our editorial teams, proofreaders or fact checkers. The issuer is solely responsible for the content of this announcement.

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