South Africa Nigeria Trade Agreement


Eritrea has not signed due to tensions with Ethiopia, but after the Eritrea-Ethiopia summit in 2018, the AU Commissioner for Trade and Industry expects Eritrea to sign the agreement. [93] On July 21, 2018, five other nations, including South Africa, signed the agreement. Initially, Benin, Botswana, Eritrea, Guinea-Bissau, Nigeria and Zambia did not sign the agreement. [63] Nigerian President Muhammadu Buhari was particularly reluctant when it harmed Nigerien entrepreneurship and Nigerian industry. [64] On July 7, 2019, Nigeria and Benin committed to signing free trade in Africa at the 12th Extraordinary Session of the Trade Union Assembly on ACFTA; Eritrea is the only nation among the 55 member States of the African Union that has not signed the agreement. [65] [66] [41] The 12. An extraordinary meeting of the African Union on the AfCFTA was convened to bring the new agreement into its operational phase, which was held in Niamey on 7 July 2019. [40] [41] The general objectives of the Agreement are:[20] The following institutions have been established to facilitate the implementation of the free trade area. . . .