A conversation with Peter Draper on free trade within the African Union.
Since the signing of the Continental Free Trade Area (AfCFTA) at the Kigali Summit in March, the African Union is taking unprecedented steps towards the creation of a single market of intra-continental trade and investment. CFTA cuts 90% of tariffs amongst 40 countries – yet only a few in Brussels has taken notice of these developments.
What is the situation on ratification – and subsequent implementation and institution building?
Where is there a case for intra-regional trade within the AU? Is there really a scope for ”Phase Two”-issues (e.g. investments, or business mobility) going beyond manufacturing?
Will AfCFTA change how Africa trades – will it change the hub-and-spoke trade with the EU?
Prof. Peter Draper was recently appointed Executive Director of the Institute for International Trade of the University of Adelaide. He is a prominent expert on trade policy in Africa, and an active advisor to the parties of the CFTA. Prof. Draper is also a member and co-chair of the WEF Global Future Council on the Global Trade; member of the Board of Trustees of the ICC Research Foundation; and Senior Fellow at ECIPE.