Free trade

Free trade is a policy followed by some international markets in which countries' governments do not restrict imports from, or exports to, other countries. Free trade is exemplified by the European Economic Area and the North American Free Trade Agreement, which have established open markets. Most nations are today members of the World Trade Organization (WTO) multilateral trade agreements. However, most governments still impose some protectionist policies that are intended to support local employment, such as applying tariffs to imports or subsidies to exports. Governments may also restrict free trade to limit exports of natural resources. Other barriers that may hinder trade include import quotas, taxes, and non-tariff barriers, such as regulatory legislation.

Features of free trade

Free trade policies generally promote the following features:

Trade of goods without taxes (including tariffs) or other trade barriers (e.g., quotas on imports or subsidies for producers)

Trade in services without taxes or other trade barriers

This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Free_trade

Latest News for: Africa free trade

Edit

Spotlight: Uncertainties mount over implementation of AfCFTA amid COVID-19 crisis

Xinhua 12 Jul 2020

... trade, and eventually facilitating Africa's development and industrialization. According to the United Nations Economic Commission for Africa (UNECA), once in operation, the African free trade accord has the potential of boosting intra-Africa trade by more than 52 percent by 2022....

Edit

The AU in 2020: Herculean tasks ahead

Independent online (SA) 10 Jul 2020

This will have devastating consequences on Africa, a continent whose trade is mostly with non-African economies ... The implementation of the African Continental Free Trade Area (AfCFTA) was supposed to inject energy into Africa’s Pan-Africanist ideals and in spurring growth in the lethargic intra-African trade....

Edit

Africa’s development experts should engage more for continent’s rapid development – Akufo-Addo

Ghana Business News 10 Jul 2020

The President further noted that though the African Continental Free Trade Area presented a considerable opportunity for Africa’s future, the continent needed to build the requisite knowhow and capacity to draw on the great benefits of the arrangement ... we need more knowledge exchange and peer learning within Africa,” he indicated....

Edit

Disunity threatens Africa’s shot at the world’s top trade job

Politico 09 Jul 2020

Trade Disunity threatens Africa’s shot at the world’s top trade job ... Africa is well-positioned to land the world's leading trade job — but only if its politicians can rally behind a unifying candidate ... Africa has also become far more ambitious when it comes to trade, with plans to launch the African Continental Free Trade Area well underway....

Edit

Nigeria: Intra-African Trade Should Align With AfCFTA Goals - ICC Board

All Africa 08 Jul 2020

... the Africa Continental Free Trade Agreement (AfCFTA)....

Edit

Zimbabwe's economy projected to shrink by 8 percent in 2020: AfDB

China.dot.org 08 Jul 2020

"The country's vast natural resources, public infrastructure still in relatively good condition, and a skilled labor force give the country an opportunity to join supply chains in Africa and increase trade within the context of the African Continental Free Trade Area," it said....

Edit

SADC rallies behind AfCFTA to grow Africa's trade

China.dot.org 07 Jul 2020

GABORONE, July 7 (Xinhua) -- The Southern African Development Community (SADC) secretariat has challenged Africa leaders to remain committed to the African Continental Free Trade Area (AfCFTA) development. "We should not lose sight of the COMESA-EAC-SADC Tripartite Free Trade ......

Edit

Integration of African regions key to growth

China Daily 07 Jul 2020

The continent will be able to achieve the African Union's Agenda 2063, the blueprint for transforming Africa into a global powerhouse of the future, implement the African Continental Free Trade Area and reduce the ever-growing trade imbalance....

Edit

Calls mount for solidarity with Africa as Covid-19 worsens livelihood of poor Africans

Independent online (SA) 04 Jul 2020

... to work with the global community to give greater support to the hardest-hit African countries under heavy financial stress, and to support Africa's efforts to develop the African Continental Free Trade Area, enhance connectivity and strengthen industrial and supply chains....

Edit

China solidarity buoys Africa in virus battle

China Daily 03 Jul 2020

He is also glad to see that China will remain steadfast in supporting Africa's industrialization while battling COVID-19, citing China's vow to support Africa in building a continental free-trade area and its efforts to strengthen connectivity and improve industrial and supply chains....

Edit

Ecowas Brown Card Insurance Scheme will remain robust – Secretary General of Ecowas Brown Card ...

Graphic 02 Jul 2020

This follows the African Continental Free Trade Agreement which comes into force this month. The African Continental Free Trade Agreement was signed by 44 African countries to create a tariff free continent that can grow local business, boost Intra-Africa trade, boost industrialization and create jobs....

Edit

OPINION: Fortifying the African agri-food systems against exogenous shock

Independent online (SA) 02 Jul 2020

This situation needs to be ameliorated and the Africa Continental Free Trade Agreement is a step in the right direct and should not be allowed to be derailed – not even by the unforgiving Covid-19 pandemic ... Hence, the importance of the Africa Continental Free Trade Agreement as an ......

Edit