ECONOMIC INTEGRATION SCHEMES IN AFRICA: A STUDY OF AFRICAN CONTINENTAL FREE TRADE AGREEMENT

Authors

  • EZEOMA Kelechi I. Institute of International Trade and Development University of Port Harcourt, Nigeria
  • AMAEWHULE Kenneth Chinonye Institute of International Trade and Development University of Port Harcourt, Nigeria

Keywords:

AfCFTA, Continental, Economic integration, Schemes, Trade Agreement

Abstract

This paper examined economic integration schemes in Africa with focus on Africa Continental Free Trade Agreement. The paper reviewed some key provisions of the African Continental Free Trade Agreement (AfCFTA) including the Trade Areas and Operational Instruments and as well reviewed the implication of AfCFTA to the development of Africa regional economic integration. The paper concluded that the intents and purposes of AfCFTA are good. However, AfCFTA is a reflection of neo-functionalism as seen in the theoretical review on regional economic integration. This to a large extent will be influenced by the conflicting interplay of the international trade theories member states are amenable to which will help to addressed transactions protocols in place backed up with the dispute resolution system. Therefore, huge sacrifices will have to be made by member states for the uplifting of Africa, as a whole and not just member states, for AfCFTA to be the success envisaged. It was recommended that companies can go a step further by considering a voluntary disclosure of their Total Tax Contribution (TTC) on their financial statements and websites. This could help companies to demonstrate their commitment and responsibility in supporting Africa to meet its development targets.

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Published

2022-09-06

How to Cite

EZEOMA, K. I., & AMAEWHULE, K. C. (2022). ECONOMIC INTEGRATION SCHEMES IN AFRICA: A STUDY OF AFRICAN CONTINENTAL FREE TRADE AGREEMENT. Developing Economy Journal, 8(9), 46–53. Retrieved from https://cirdjournal.com/index.php/dej/article/view/846