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The tariff revenue implications of the african continental free trade area a joint research initiative of the african tax administration forum (ataf) and the wu global tax institute for austrian international tax (vienna university economics and business) All regions will benefit from trade liberalisation and increased economic interconnectivity, but the unique threats to development in each region must be addressed. The discourse will then assess the issues that are germane to the broader discussion on implementation of afcfta in africa
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The aim of the presentation is to assess how afcfta will impact tax administration in nigeria first and then in africa. Beyond numbers, it’s also about industrialization—encouraging africa to manufacture, not just export raw materials. The african continental free trade area is widely seen as a crucial driver for economic growth, industrialization and sustainable development in africa
Despite the opportunities, challenges need to be addressed.
In march 2018, over 40 countries signed the african continental free trade area (afcfta) agreement Once fully implemented, the afcfta is expected to cover all 55 african countries, with a combined gdp of about us$2.2 trillion By achieving these ambitious objectives, it is anticipated that the afcfta will not only boost trade and real income on the continent but will also have a significant impact on poverty reduction, radically change africa’s position in the global value chain and lead to the development of african based value chains.3 indeed, the afcfta. Besides lowering import tariffs, to ensure these benefits, african countries will need reduce other trade barriers by making more efficient their customs procedures, reducing their wide.
