
Audio By Carbonatix
The implementation of a mammoth African free trade agreement will not begin on July 1 as planned due to disruptions caused by the coronavirus outbreak, a senior official said on Tuesday.
“It is obviously not possible to commence trade as we had intended on 1 July under the current circumstances,” Wamkele Mene, Secretary-General of the African Continental Free Trade Area, said during a conference call.
Mene did not say whether there was a new targeted implementation date, and left the conference call before the question and answer session.
The 55-nation continental free-trade zone would, if successful, create a $3.4 trillion economic bloc with 1.3 billion people across Africa and constitute the largest new trading bloc since the World Trade Organization formed in 1994.
Mene said he was confident the deal would still go forward.
“The political commitment remains, the political will remain to integrate Africa’s market and to implement the agreement as was intended,” he said.
Mene said that as African governments do not have the firepower to launch the same type of economic stimulus packages that the United States and Europe are putting forward to mitigate the economic damage from the coronavirus pandemic, intra-African trade could serve the same purpose.
“That’s our stimulus package. That’s how we’re going to get back on track as Africa.”
Latest Stories
-
Leicester lose appeal against points deduction
3 minutes -
Telecel hosts Women 100 Power Connect 2026 on reciprocity in leadership
11 minutes -
Ken Ofori-Atta released from ICE detention after judicial order — Lawyer confirms
13 minutes -
Women in PR Ghana unveils Top 10 PR Women for 2025
18 minutes -
Tourism Minister advocates expansion of Vodza Regatta in Volta region to boost coastal tourism
28 minutes -
Gradual recovery signals shift in fortunes of Tema Oil Refinery
31 minutes -
Greece to ban social media for under-15s from next year
31 minutes -
Volta Chiefs condemn EOCO over alleged disregard for Court ruling in Kwamigah-Atokple case
33 minutes -
We need collective action to advance sustainability in Ghana and Africa – Deloitte Tax Partner
37 minutes -
Imperial College promotes science communication and Africa–UK innovation links
38 minutes -
Imperial College President calls for global science partnerships with Africa
48 minutes -
NPP leaders converge at party headquarters ahead of NEC meeting on polling station elections
59 minutes -
Fuel prices may rise in Ghana despite global drops – Duncan Amoah
1 hour -
‘No one is above the law’- Volta Chiefs condemn EOCO over handling of Council of State member’s case
1 hour -
AMA creates alternative pedestrian routes at Kaneshie after footbridge closure
1 hour