Thursday, 15 November, 2018

AU Chief calls for urgent application of African CFTA

African Union launches ambitious bid for 'world's largest free trade area' AU Chief calls for urgent application of African CFTA
Kenny Thornton | 20 March, 2018, 11:49

The AfCFTA will make Africa the largest free trade area created since the formation of the World Trade Organisation, according to the AU.

President Emmerson Mnangagwa has arrived in Kigali, Rwanda for the African Union (AU) extraordinary summit that is expected to see the launching of the African Continental Free Trade Area.

President Adama Barrow of the Gambia will Tuesday morning leave for Kigali, Rwanda, to attend the extraordinary meeting of the heads of state of the African Union.

The framework agreement for establishing the African Continental Free Trade Area is expected to allow free trade among all countries that sign.

Mahamat further urged African countries to overcome fears and self-interests as these continue to be barriers to regional trade and growth.

The AfCFTA will, amongst others, reduce the vulnerability of the continent to external shocks, and will also enhance the participation of Africa in global trade as a respectable partner, thereby reducing the continent's dependence on foreign aid and external borrowing.

Valtteri Bottas Not "Wasting Energy" on Mind Games with Hamilton
The new season also marks the introduction of governing body FIA's new mandatory safety halo head protection device, which has drawn ire from some teams.

Beyond the signing of the agreement, Minister Mushikiwabo said that countries ought to also address other trade concerns such as burdensome regulations, access to finance by the private sector, infrastructure networks, and simplification of customs processes to significantly increase intra-Africa trade.

South Africa, a vocal backer of the trade deal, has argued that African economies are too small to support economic diversification and industrialisation on their own.

He will lead a South African delegation that includes; Minister of International Relations and Cooperation, Ms Lindiwe Sisulu, Minister of Trade and Industry, Dr Rob Davies and Deputy Minister of Trade and Industry, Mr Gratitude Magwanishe.

However in Nigeria, the plans have not gone down well with unions and business leaders.

"We must do so rapidly", she said.

Which countries will adopt these agreements remains unclear, as do the prospects for the CFTA, which requires 22 ratifications at a national level after its signing to come into force.

Recommended

Putin wins another 6 years as Russian leader Putin wins another 6 years as Russian leader An official win of more than 73% of the vote would be a major boost to Putin, who already enjoys sweeping powers over his country. Congratulatory messages from leaders around the world came in throughout the day on Monday, though some were laced with warning.

Stranger Things stars land huge pay increases ahead of season 3 Stranger Things stars land huge pay increases ahead of season 3 All four reportedly earned $30,000 per episode for the first two seasons. Cast shake-ups are also in the horizon for the upcoming season.

Students use detention from school walkout to protest gun violence Students use detention from school walkout to protest gun violence My 17 minutes here are up, but my commitment to the students, staff and our community will continue... albeit forever changed. One minute for each of the Parkland victims. "You have to go an actually do something", she said.

Kroger announces plans to phase out magazines that feature assault rifles Kroger announces plans to phase out magazines that feature assault rifles The company in a statement says the firearms category represents about $7 million annually of its revenue and sales are declining. The superstore has been selling guns and ammo at roughly 45 stores in Oregon, Washington, Idaho, and Alaska.

France boss vows to get to bottom of Pogba situation France boss vows to get to bottom of Pogba situation Pogba is understood to have concerns when played in a midfield two, despite having featured there for much of the season. The 25-year-old arrived at United from Juventus in 2016 for a then-world record fee of £89 million (105 million euros).

The NSW Rural Fire Service Issues An Asbestos Warning For Tathra The NSW Rural Fire Service Issues An Asbestos Warning For Tathra The Insurance Council of Australia said it was still too early to gauge what the insurance bill from the Tathra bushfire would be. The Deputy Commissioner said the area was narrow and there was a "limit to what you can do there".

DG: US seeks reforms in WTO's functioning DG: US seeks reforms in WTO's functioning Roberto Azevêdo, Director-General of the WTO " the PM tweeted and posted a picture with him. At this moment WTO is facing challenges both within and outside, he said.

Hero Report Sneak Peek: Constantine returns to Legends Hero Report Sneak Peek: Constantine returns to Legends Little is concrete, but you can be sure things will get a lot weirder in what is already one of the craziest shows on television. Now it turns out that if the Waverider keeps flying, a certain rake at the gates of hell will be joining the team for good.

Hess Midstream Partners LP (HESM) COO Acquires 5100 Shares of Stock They just need to take the company's market capitalization and divide it by the company's total sales over the past 12 months. The Return on Equity (ROE) and Return on Investment (ROI) values are 10.9 percent and 4.8 percent respectively.

Rabada Appeal Hearing Set For Monday Rabada Appeal Hearing Set For Monday Proteas' players celebrate after Kagiso Rabada (centre) took the wicket of Australia's Mitchell Starch. South Africa can replace Rabada with Olivier, Morris, uncapped Wiaan Mulder or Morne Morkel.

As Saudi prince visits US, shale transforms oil relationship As Saudi prince visits US, shale transforms oil relationship If Saudi Arabia is indeed to move into the 21st century, it must stop being governed by royalty. According to NYT report, he owns the most expensive home in France.

Xiaomi unveils full screen 4G smartphone Xiaomi unveils full screen 4G smartphone The Xiaomi Redmi 5 , the company's latest budget smartphone in the Indian market, will go on sale via Amazon and Mi.com at 12PM. On buying the new Redmi 5 from Mi.com, Amazon or Xiaomi's own offline Mi Home store, buyers will get up to Rs 2,200 cashback.

First day of spring means free ice cream cones at Dairy Queen First day of spring means free ice cream cones at Dairy Queen Dairy Queen's website said various locations will be giving away free small vanilla ice cream cones Tuesday. Dairy Queen is once again marking the season change with its fourth annual Free Cone Day .

Penny Hardaway agrees to Memphis deal Penny Hardaway agrees to Memphis deal Hardaway has coaching experience, having coached AAU teams and Memphis East High School, where he won three state titles in a row. Memphis' basketball program needs a spark in the worst way, having missed out on the NCAA Tournament the past four years running.

Putin prevails: Russian president re-elected for fourth term Putin prevails: Russian president re-elected for fourth term Selfie competitions, giveaways, food festivals and children's entertainers were laid on at polling stations to entice voters. The Central Election Commission stated communist Pavel Grudinin came in a distant second with 11.78 percent.