The People’s Republic of Angola has deposited its ratification instruments for the African Continental Free Trade Agreement (AfCFTA), having signed it on 21st March 2018, making it the 30th state party to the Agreement. This is in anticipation of the commencement of trade under the AfCFTA in January 2021.
Angola’s ratification instruments were deposited at the African Union Commission by Francisco Jose Da Cruz, Ambassador of Angola to the African Union. The AU Commission expects further ratifications ahead of the extraordinary summit of heads of state of the AU on the AfCFTA, slated for 5th December.
The AfCFTA, which has already been signed by 54 Member States of the African Union, thus far, is a trade agreement that foresees the creation, by 2028, of a single market, as well as the establishment of a continental economic union and an area for free movement of persons. According to legal provisions, the AfCFTA will not come into effect until 22 of the AU countries have signed and ratified the Agreement.
Consequently, the 22-country threshold was reached on 29th April 2019, after the Saharawi Republic and Sierra Leone deposited their ratification instruments with the depositary. Article 23 of the Agreement stipulates that entry into force occurs 30 days after the 22nd instrument of ratification is deposited with the Chairperson of the AU Commission.
Today, 54 of the 55 AU countries have signed the AfCFTA Agreement, with Eritrea being the only exception. With Angola’s ratification, the AfCFTA now requires 25 more ratification to achieve universal ratification.
See Also:
