{"id":67558,"date":"2019-07-08T06:47:48","date_gmt":"2019-07-08T05:47:48","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=67558"},"modified":"2019-07-08T06:47:48","modified_gmt":"2019-07-08T05:47:48","slug":"free-trade-must-also-be-fair-trade-says-buhari-as-nigeria-signs-african-free-trade-agreement","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/free-trade-must-also-be-fair-trade-says-buhari-as-nigeria-signs-african-free-trade-agreement\/","title":{"rendered":"FREE TRADE MUST ALSO BE FAIR TRADE, SAYS BUHARI AS NIGERIA SIGNS AFRICAN\u00a0 FREE TRADE AGREEMENT"},"content":{"rendered":"<div id=\"m-265501733051613600\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\">Nigeria officially joined the African Continental Free Trade Area<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\">(AfCFTA) as President Muhammadu Buhari signed the Agreement Sunday in<br \/>\nNiamey at the opening of the African Union (AU) Summit.<\/p>\n<p>President Buhari appended his signature to the treaty at exactly 10: 47<br \/>\na.m. in the presence of African Heads of State and Government, delegates<br \/>\nand representatives from the private sector, civil society and the media<br \/>\nattending the 12th Extraordinary Summit of the African Union on Launch<br \/>\nof the Operational Phase of the AfCFTA.<\/p>\n<p>In his remarks shortly after signing the agreement, the President<br \/>\ndeclared that Nigeria&#8217;s commitment to trade and African integration have<br \/>\nnever been in doubt nor was it ever under threat.<\/p>\n<p>He told the Summit that Nigeria will build on the event by proceeding<br \/>\nexpeditiously with the ratification of the AfCFTA.<\/p>\n<p>&#8221;Nigeria wishes to emphasize that free trade must also be fair trade.<\/p>\n<p>&#8221;As African leaders, our attention should now focus on implementing the<br \/>\nAfCFTA in a way that develops our economies and creates jobs for our<br \/>\nyoung, dynamic and hardworking population.<\/p>\n<p>&#8221;I wish to assure you, that Nigeria shall sustain its strong leadership<br \/>\nrole in Africa, in the implementation of the AfCFTA. We shall also<br \/>\ncontinue to engage, constructively with all African countries to build<br \/>\nthe Africa that we want,&#8221; President Buhari said.<\/p>\n<p>The Nigerian leader also congratulated Ghana on being selected to host<br \/>\nthe Secretariat of the AfCFTA.<\/p>\n<p>President Buhari stated further:<\/p>\n<p>&#8221;I have just had the honour of signing the agreement establishing the<br \/>\nAfrican Continental Free Trade Area (AfCFTA), on behalf of my country,<br \/>\nthe Federal Republic of Nigeria.<\/p>\n<p>&#8221;This is coming over a year since the AfCFTA Agreement was opened for<br \/>\nsignature in Kigali, Rwanda, at the 10th Extraordinary Summit of the<br \/>\nAfrican Union, on 21st March 2018.<\/p>\n<p>&#8221;In fact, you will recall that the treaty establishing the African<br \/>\nEconomic Community was signed in Abuja in 1991.<\/p>\n<p>&#8221;We fully understand the potential of the AfCFTA to transform trade in<br \/>\nAfrica and contribute towards solving some of the continent&#8217;s<br \/>\nchallenges, whether security, economic or corruption.<\/p>\n<p>&#8221;But it is also clear to us that for AfCFTA to succeed, we need the<br \/>\nfull support and buy-in of our private sector and civil society<br \/>\nstakeholders and the public in general.<\/p>\n<p>&#8221;It is against this background that we embarked on an extensive<br \/>\nnationwide consultation and sensitization programme of our domestic<br \/>\nstakeholders on the AfCFTA.<\/p>\n<p>&#8221;Our consultations and assessments reaffirmed that the AfCFTA can be a<br \/>\nplatform for African manufacturers of goods and providers of service to<br \/>\nconstruct regional value chains for made in Africa goods and services.<\/p>\n<p>&#8221;It was also obvious that we have a lot of work to do to prepare our<br \/>\nnation to achieve our vision for intra-African trade which is the free<br \/>\nmovement of &#8216;made in Africa goods&#8217; &#8220;.<\/p>\n<p>&#8221;Some of the critical challenges that we identified will require our<br \/>\ncollective action as a Union and we will be presenting them for<br \/>\nconsideration at the appropriate AfCFTA fora.<\/p>\n<p>&#8221;Examples are tackling injurious trade practices by third parties and<br \/>\nattracting the investment we need to grow local manufacturing and<br \/>\nservice capacities.&#8221;<\/p>\n<p>President Buhari noted that Nigeria&#8217;s signing of the AfCFTA and its<br \/>\nOperational Launch at the 12th Extraordinary Summit was an additional<br \/>\nmajor step. forward on the AU&#8217;s Agenda 2063.<\/p>\n<p>BACKGROUND<\/p>\n<p>Meanwhile, with Nigeria and Benin Republic signing the Agreement at the<br \/>\nSummit, 54 out of 55 African countries have signed the world&#8217;s largest<br \/>\nfree trade area deal, encompassing 55 countries and 1.2 billion people.<\/p>\n<p>Eritrea is the only African country yet to sign the agreement.<\/p>\n<p>A total of 26 African countries have deposited instruments of<br \/>\nratification, with Gabon being the latest after depositing her<br \/>\ninstrument of ratification during the Extraordinary Summit.<\/p>\n<p>The AfCFTA Agreement entered into force on May 30, 2019 thirty days<br \/>\nafter having received the twenty-second instrument of ratification on 29<br \/>\nApril, 2019 in conformity with legal provision.<\/p><\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\"><\/div>\n<\/div>\n<div id=\"conversation-footer\" class=\"spacer\"><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Nigeria officially joined the African Continental Free Trade Area (AfCFTA) as President Muhammadu Buhari signed the Agreement Sunday in Niamey at the opening of the African Union (AU) Summit. President&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":64595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-67558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FREE TRADE MUST ALSO BE FAIR TRADE, SAYS BUHARI AS NIGERIA SIGNS AFRICAN\u00a0 FREE TRADE AGREEMENT - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/free-trade-must-also-be-fair-trade-says-buhari-as-nigeria-signs-african-free-trade-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FREE TRADE MUST ALSO BE FAIR TRADE, SAYS BUHARI AS NIGERIA SIGNS AFRICAN\u00a0 FREE TRADE AGREEMENT - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Nigeria officially joined the African Continental Free Trade Area (AfCFTA) as President Muhammadu Buhari signed the Agreement Sunday in Niamey at the opening of the African Union (AU) Summit. 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