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

US’ Africa policy driven by convenience

People Daily 21 Sep 2018

In late March, in response to Rwanda raising tariffs on used clothing and footwear from the US, the Trump administration caught Africa's textile industry in the crosshairs of the president's global trade war, suspending and eventually cancelling duty-free privileges on eligible Rwandan clothing ... For instance, its security cooperation with Africa ......

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A workforce boom makes SMEs more important than ever in Africa

The National 21 Sep 2018

Forty-nine countries have signed up so far this year to join the African Continental Free Trade Area, which is the latest contribution to a perennial debate ... The debate about job creation and growth in Africa often focuses on trade barriers or the huge investments required in infrastructure and power - typically multi-million dollar projects - that are correctly seen as pre-requisites for Africa to fulfil its potential....

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Success of BRI in Africa good for Europe

China Daily 20 Sep 2018

These networks will enhance Africa's trade links with the Middle East, Europe and Asia ... While Europe is still Africa's largest economic partner, both regions have lost parts of their trade shares to China since 2000 ... Historical links between Europe and Africa have led to a mixed legacy of colonialism, development aid and various free-trade agreements....

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Sea snails under threat from surge in poaching -report

Independent online (SA) 19 Sep 2018

convention that regulates the global trade in at risk wild flora and fauna - not least because there are almost no regulations outside of South Africa to control the trade. “All you have to do is get it out of South Africa and Namibia, you are home free, there are no regulatory obstacles to the trade,” Julian Rademeyer, one of the report’s authors, told Reuters....

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South African sea snails under threat from surge in poaching -report

This is Money 18 Sep 2018

convention that regulates the global trade in at risk wild flora and fauna - not least because there are almost no regulations outside of South Africa to control the trade. "All you have to do is get it out of South Africa and Namibia, you are home free, there are no regulatory obstacles to the trade," Julian Rademeyer, one of the report's authors, told Reuters....

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Ghana resurrects LNG import terminal with Chinese deals

Joy Online 18 Sep 2018

The terminal will be able to import 2 mtpa, leaving 0.3 mtpa of supplies either yet to be negotiated or free for spot deliveries. LNG is one of the fastest-growing commodity trades in the world at the moment but Africa is not expected to become a large importer due to its vast gas deposits, much of which are yet to be brought to commercial development....

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Africa has phenomenal potential for intra-continental trade

Sierra Leone Telegraph 17 Sep 2018

Forty-nine of Africa’s 55 countries have signed the framework for the African Continental Free Trade Area (AfCFTA) to create a single continental market for goods and services, with free and unfettered movement of businesspeople and investments ... What do you say about Africa’s push for a free trade area at a time when some countries in the West are becoming increasingly protectionist? ... Africa trades quite a lot across borders....

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Diplomats Call for Implementation of Africa’s Convention on Corruption

This Day 17 Sep 2018

Some of the major initiatives he listed include; the Continental Free Trade Area Agreement, Protocol establishing the African Economic Community, which relates to Free Movement of Persons, Rights of Residence and Rights of Establishment and the Single Air Transport Market, which automatically allows carrier of one African country to fly to another without hindrance....

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Nigeria right and wrong not to sign African trade pact- trade expert says

Business Day Online 16 Sep 2018

The big question answered Was Nigeria strategically right or wrong to withhold signature on the much talked about Africa Free Trade Agreement or even the European Union sponsored Economic Partnership Agreement? Many said Nigeria Muhammadu Buhari was wrong or even foolish, some others including manufacturers hailed him on that score....

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African Diplomats Seek Implementation of Convention on Corruption

This Day 16 Sep 2018

“For that date our leaders adopted important initiatives aimed at deepening Africa’s integration”, he said ... the Continental Free Trade Area Agreement; Protocol establishing the African Economic Community, which relates to Free Movement of Persons, Rights of Residence and Rights of Establishment; and the Single Air Transport Market, which automatically allows carrier of one African country to fly to another without hindrance....

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China, Pakistan remain on same page in regard to CPEC: Chinese media

The News International 15 Sep 2018

Providing Africa, Central Asia and the Middle East with convenient trading routes, Gwadar is making the CPEC the "flagship corridor" of the Belt and Road Initiative ... After a Free Trade ... Providing Africa, Central Asia and the Middle East with convenient trading routes, Gwadar is making the CPEC the "flagship corridor" of the Belt and Road Initiative....

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European Commission explores new Africa alliance for jobs and trade

Ghana Business News 13 Sep 2018

The EU-AU partnership will clamour for full continent-to-continent free trade agreement as an economic venture ... While he will be stepping down from his role in a year’s time, Juncker indicated that in the future, the EU would seek to take advantage of Africa’s efforts to forge a free trade area within the continent by offering a continent-to-continent free trade agreement....

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EU set to shore up its leaking borders with 10,000 new guards

China Daily 13 Sep 2018

But he said the United Kingdom will remain a close partner of the EU in political, economic, and security terms, and noted that Britain and the EU should strive to negotiate a free-trade deal ... "Europe must remain a tolerant, open continent," he said ... He also said cooperation, instead of charity, should be the bedrock of a new EU-Africa alliance that could eventually lead to a continent-to-continent free-trade agreement ... ....

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