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Assessing Regional Integration in Africa V

Towards an African Continental Free Trade Area

image of Assessing Regional Integration in Africa V

This publication comes at a time of renewed enthusiasm for shortening the period of the vision of the Abuja Treaty. The publication’s overall objective is to provide analytical research that defines frameworks for African governments, the African Union and the Regional Economic Communities, towards accelerating the establishment of the African Common Market through: the speedy removal of all tariff and non-tariff barriers, obstacles to free movement of people, investments and factors of production in general across Africa, and through fast-tracking the creation of an African continental Free Trade Area.

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Movement of investment and capital in Africa

During the past two decades, shifting economic paradigms and conditions for investment and capital flows—globalization—have underlined the importance of African countries’ steps to widen and deepen regional integration. They have, in particular, removed open impediments to capital flows, enabling investors to freely select among alternative destinations on the basis of comparative advantage. In the destination countries, the recent financial crisis and the consequent reduction in official development assistance have also prompted governments to increase their efforts to mobilize private financial resources for public projects, especially for infrastructure.

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