Foreign

ZLECAf: 11 countries validate their agreement

Published

on

By Temitope Ponle

Eleven African countries have validated the strategies for implementing the African Continental Free Trade Area (AfCFTA)agreement, according to the United Nations Economic Commission for Africa (ECA).

Ms Vera Songwe, Under-Secretary-General of the United Nations and Executive Secretary of ECA, said this in her opening statement at the 39th session of the Committee of Experts on Wednesday.

The expert meeting was also on the sidelines of the 53rd session of the committee.

Songwe listed countries like Mauritania, Senegal, Gambia, Guinea, Sierra Leone, Cote d’Ivoire, Togo, Niger, Cameroon, Zambia and Zimbabwe.

The executive secretary further said that the countries which were in the drafting phase of the agreement were Algeria, Burkina Faso, Chad, Congo, Kenya, Namibia and Malawi.

She added that the early stage countries were Nigeria, Tunisia, Guinea-Bissau, Benin, Gabon, Equatorial Guinea, Sudan, Tanzania, Botswana, Mozambique and Eswatini.

She said data was not available for other countries.

The AfCFTA entered into force on January 1. As of February, 54 of the 55 African Union member states had signed.

Additionally, the ECA chief said 25 countries have joined the Debt Service Suspension Initiative (DSSI) with potential savings equal to 0.71 percent of 2019 gross domestic product (GDP).

According to the World Bank, the DSSI is an initiative by the bank and the International Monetary Fund (IMF) urging the Group of 20 (G20) to help countries focus their resources on combating the COVID-19 pandemic and safeguarding people’s lives and livelihoods.

The initiative went into effect on May 1, 2020 and has provided approximately $ 5 billion in relief to more than 40 eligible countries.

In his remarks, Amb. Tesfaye Sabo, Permanent Representative of Ethiopia to the African Union and ECA, said Africa has made a vigorous effort under the leadership of the African Union, to combat this pandemic and reduce its impact. socioeconomic.

Sabo said this was done by working with global partners and through mobilizing the African people.

“These efforts have produced commendable results,” he added.

The permanent representative said the conference was timely and crucial for understanding the complex socio-economic implications of the pandemic and for charting the way forward. (NOPE)

Short Link: https://wp.me/pcj2iU-3ykI

Coronavirus – Rwanda: COVID-19 update (April 19, 2021) New report highlights impact of COVID-19 on African trade finance Association calls for increased funding for cashew producers to boost production Coronavirus – Nigeria: COVID-19 update (April 19, 2021) UNICAL, C / River collaborate in capacity building, infrastructure development 905m COVID-19 shots administered worldwide – Report Uzuakoli police station attack barbaric, says Orji Kalu Nigerian Customs Service Generates Q1 Q1 Turnover of N466.1 Billion Qhubeka ASSOS faces Flèche Wallonne and the famous Mur de Huy TECNO mobile launches the next generation Spark 7P for Gen Z with cutting-edge innovations Biden bans federal agencies from using phrase ‘illegal alien’ European regulator to give recommendation on Johnson and Johnson’s jab Press freedom: Germany abandons list of major nations Shaping Tomorrow’s Business Realities Through Changing Perspectives: The Virtual Summit of the Dynamic Woman EU to send 651,000 doses of vaccine to Balkans NITDA ensuring a secure cyberspace for national security – DG Buhari welcomes former CNN award winner Oshukeye at 65 Ramadan blessings: Buhari welcomes Nigerien President Bazoum to Iftar Manufacturing, the key to job creation – AbdulRazaq COVID-19 worsens TB cases in Nigeria – Director Abia police command confirms attack on Uzuakoli division post 2023: Ebonyi INEC forms OEs for proposed voting units Governor Wike urges FG to allow states to develop minerals and pay royalties COVID-19: NCDC Performs 1,870,915 Tests, Confirms 70 New Infections Police neutralize 3 bandits and recover 330 stolen animals in Katsina state – PPRO NWFL Super Six: Sunshine Queens, Bayelsa Queens, draw 1-1 Food security: the group trains 100 young Ebonyi in agro-industry What the domestic leagues will look like if the Super League 12 are sent off Congress: INEC reads anti-riot act to political parties on violence Osinbajo charges US on net zero emissions and access to COVID-19 vaccine Gasoline: no increase in the ex-depot price in May – NNPC Gasoline Financial autonomy: governments and stakeholders reach agreement British government. launches football review after Super League fury Lagos will create an anti-corruption commission Delta Queens defeated Edo Queens for their first Super Six victory Buhari sympathizes with Chad and Egypt over tragic events How COVID-19 Vaccines Work – NPHCDA Greece lifts quarantine requirement for some travelers Elections 2023: INEC plans to expand polling stations 1 in 4 Nigerians suffers from mental disorders, physiologist says Ondo Deputy Governor pledges Sunshine Queens N50,000 in cash per goal SON’s director general calls for the agency’s return to seaports Minister presents new Ag. IG Baba to Buhari Cleric Wants Censor Board Checkmate Nudity Movies Chadian government calls for calm after rebel incursion Catholic Church urges youth to develop Nigeria through social media Kenya launches platform to fight malnutrition FG NITDA tasks on IT promotion CENI blames electoral violence on population growth and inadequate PUs Fayemi calls for dialogue to end JUSUN strike