The African Continental Free Trade Area (AfCFTA) agreement will
create the largest free trade area in the world, measured by the
number of countries participating. The pact will connect 1.3
billion people across 55 countries with a combined GDP valued at
$3.4 trillion. It has the potential to lift 30 million people out
of extreme poverty by 2035. But achieving its fullpotential will
depend on putting in place significant policy reforms and trade
facilitation measures.The scope of the agreement is considerable.
It will reduce tariffs among member countries and cover policy
areas, such as trade facilitation and services, as well as
regulatory measures, such as sanitary standards and technical
barriers to trade. It will complement existing subregional economic
communities and trade agreements by offering a continent-wide
regulatory framework and by regulating policy areas-such as
investment and intellectual property rights protection-that have
not been covered in most subregional agreements.The African
Continental Free Trade Area: Economic and Distributional Effects
quantifies the long-term implications of the agreement for growth,
trade, poverty reduction, and employment. Its analysis goes beyond
that in previous studies that have largely focused on tariff and
nontariff barriers in goods-by including the effects of services
and trade facilitation measures,as well as the distributional
impacts on poverty, employment, and wages of female and male
workers. It is designed to guide policy makers as they develop and
implement the extensive range of reforms needed to realize the
substantial rewards that the agreement offers. The analysis shows
that full implementation of AfCFTA could boost income by 7 percent,
or nearly $450 billion, in 2014 prices and market exchange rates.
The agreement would also significantly expand African
trade-particularly intraregional trade in manufacturing. In
addition, it would increase employment opportunities and wages for
unskilled workers and help close the wage gap between men and
women.
General
Imprint: |
World Bank Publications
|
Country of origin: |
United States |
Release date: |
October 2020 |
Authors: |
World Bank
|
Dimensions: |
250 x 178mm (L x W) |
Format: |
Paperback
|
Pages: |
158 |
ISBN-13: |
978-1-4648-1559-1 |
Categories: |
Books
|
LSN: |
1-4648-1559-3 |
Barcode: |
9781464815591 |
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!