What's New

In late March, heads of state from 44 African countries met in Kigali, Rwanda to sign the framework agreement forming a new African Continental Free Trade Area (AfCFTA) . If the agreement is ratified by all 55 member states of the African Union, the AfCFTA would establish one of the largest free trade areas in the world, covering over 1.2 billion people and $2.5 trillion in GDP.

Globalization has played a key role in the sustained economic growth seen in Africa south of the Sahara in recent years, according to IFPRI’s 2018 Global Food Policy Report . However, rising protectionism and anti-globalization in some developed countries could pose a threat to further economic growth and development in the region.

As we approach the Eleventh WTO Ministerial Conference (MC11), taking place from December 10-13 in Buenos Aires, developing countries’ role in the negotiations remains in question. This will be the first ministerial to be held in South America and will provide an opportunity to reduce trade barriers and further liberalize the global trading system. In recent years, developing countries have accounted for an increased share in global trade, making them more relevant players in the negotiations.

Africa played an important part of the conversation at the 2017 G20 Summit with the launch of the G20 Africa Partnership for sustainable development. Following on the G20 Africa Partnership Conference held in Berlin in June 2017, this new initiative highlights the need for private investment, sustainable infrastructure growth, and education in the region. Efforts will focus on improved infrastructure, increased investment in market access and education, particularly for women and youth, and improved capacity-building programs.

This blog originally appeared on IFPRI.org .

Trade integration is a powerful tool for economic growth, development, and poverty alleviation. In the Malabo Declaration (PDF) of June 2014, African countries committed to tripling the level of intra-African agricultural trade and services by 2025, fast-tracking the establishment of a Continental Free Trade Area and adopting a continent-wide Common External Tariff scheme.