“If the pandemic continues into 2021, we will develop the necessary public-health protocols to continue and to push on with the implementation of the African Continental Free Trade Area,” Wamkele Mene said in an interview at the Bloomberg Invest Global virtual conference on Tuesday.
While the agreement entered into force legally last year, commerce due to have started on July 1 has been delayed as the pandemic set back negotiations to lay the foundation for trade in goods, including tariff concessions. When fully operational by 2030, it could be the world’s biggest free-trade zone by area, with a potential market of 1.2 billion people and a combined gross domestic product of $2.5 trillion.
Nigeria, the continent’s biggest oil producer, has yet to ratify the deal because of concerns about trans-shipments, where goods could enter the free-trade zone from countries that are not party to the agreement, Mene said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: South Africa Looks to Green Infrastructure Bond to Spur GrowthSouth Africa’s government is considering selling a green infrastructure bond worth tens of billions of rand as part of its biggest drive ever to kickstart private investment in projects ranging from energy to water reticulation.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: U.S. Futures Swing With Yuan on China Trade Worry: Markets WrapU.S. futures swung wildly with the yuan after a Trump administration official described the Sino-American trade deal as “over” before later saying that that remark was not as it seemed.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Apple to Let Developers Challenge App Rules, Won’t Delay UpdatesApple Inc. said it will start letting developers challenge App Store store policies and won’t delay app updates over rule violations, possibly easing tensions with the creators who help fuel the iPhone maker’s growing services business.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Schwarzman Sees ‘Big V’ Economic Rebound in Next Few MonthsSteve Schwarzman, chief executive officer of Blackstone Group Inc., said the economy is likely to benefit from a V-type recovery in the next few months.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: South Africa Looks to Green Infrastructure Bond to Spur GrowthSouth Africa’s government is considering selling a green infrastructure bond worth tens of billions of rand as part of its biggest drive ever to kickstart private investment in projects ranging from energy to water reticulation.
Source: dailymaverick - 🏆 3. / 84 Read more »