South Sudan official says set to join continental free trade body

South Sudan said on Friday its set to join the African Continental Free Trade Area (AfCFTA) which will commence operation on July 1, 2020, said a senior official.

Michael Makuei Lueth, minister of information revealed that the youngest nation will soon join 28 African countries who have already signed and ratified the AfCFTA agreement since it’s coming into force on May 30.

“South Sudan being one of the members of East African Community (EAC) ultimately has to join the African Continental Free Trade Area and the cabinet approved the presentation by the minister of trade, industry and EAC Affairs,” Makuei told journalists in Juba after the weekly cabinet meeting.

South Sudan joined the EAC in 2016 becoming the six-member of the regional trade bloc which includes Uganda, Kenya, Burundi, Rwanda and Tanzania.

AfCFTA aims at accelerating intra-African trade and boosting Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations.

The operational phase of the AfCFTA was subsequently launched during the 12th Extraordinary Session of the African Union in Niamey, Niger on July 7.

The AfCFTA will be governed by five operational instruments which include the rules of origin, online negotiating forum, monitoring and elimination of non-tariff barriers, a digital payments system and the African Trade Observatory.

The continental trading body will be the world’s largest free trade area by number of countries once it’s fully up and running.

It also aims to establish a single market for goods and services across 54 countries, allow the free movement of business, travelers and investments, and create a continental customs union to streamline trade and attract long-term investment.

The agreement is seen critical for growth and job creation for Africa and its 1.27 billion people. Enditem