Member states of the African Continental Free Trade Area (AfCFTA) have finalized negotiations on rules of origin, which are expected to further reduce tariffs on origin goods within the African continent.
Ebrahim Patel, chairman of the African Union (AU) Council of Trade Ministers, said the adopted rules could cover 87.7% of goods included on the tariff lines of the AU member countries.
Although trade under AfCFTA officially began on January 1, 2021, issues related to rules of origin remained unresolved, making it difficult to identify goods that could benefit from preferential tariff treatment under the agreement.
Wamkele Mene, AfCFTA secretary general, said the completion of negotiations on rules of origin was an important milestone towards a successful implementation of the free trade pact..
"Now that we have agreed on 87.7 percent of the rules of origin, we are in a position to allow member states to publish these legal instruments at the national level so that countries can apply these rules of origin from a customs perspective," Mene said.Source