In a significant step toward economic integration, the National Action Committee on the African Continental Free Trade Area (AfCFTA) led by the Executive Secretary, Mr. Olusegun Awolowo, recently concluded a pivotal stakeholders meeting in Abuja, Nigeria.
According to Nigeria’s AfCFTA secretariat, the focus of the meeting was to finalize the process of gazetting the AfCFTA agreement within the country.
The AfCFTA, a landmark initiative aimed at creating a single market for goods and services across the African continent, has been gaining momentum since its inception. Nigeria, being one of the largest economies in Africa, plays a crucial role in the success of this trade agreement.
The stakeholders meeting with participants drawn from the public and private sectors served as a platform for key players in various areas to collaborate, share insights, and address potential challenges in the implementation of the AfCFTA within the Nigerian context. It marked a crucial juncture in the commitment to fostering intra-African trade and promoting economic growth.
Gazetting the AfCFTA agreement in Nigeria is a formal and legal process that involves publishing the text of the agreement in the official government gazette. This step solidifies the country’s dedication to the principles of free trade, creating a conducive environment for businesses to thrive and promoting economic diversification.
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As Nigeria moves forward with this crucial aspect of the AfCFTA implementation, it sends a positive signal to the international community about the nation’s commitment to regional cooperation and economic development. The gazetting process is expected to provide a clear legal framework for businesses, encouraging investment and fostering a more competitive and dynamic economic landscape.
