At this morning session, Dr Vera Songwe, United Nations Economic Commission for Africa addressed the AU Executive Council #AfCFTA
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@SongweVera: We are currently witnessing some new and quite extraordinary developments in the global economy. In the developed world there is a rising tide of protectionism and anti-globalisation. Although we are not the focus, Africa will not remain untouched.#AfCFTA2 replies 27 retweets 24 likesShow this thread -
@SongweVera: For examples, just weeks ago, US unilaterally announced increases in the steel and alumium tariffs. Currently Africa exports to the United States around $800 million in the affected steel and aluminium products#AfCFTA1 reply 18 retweets 9 likesShow this thread -
@SongweVera: The US has also threaten to revoke AGOA preferences for several East African Countries, affecting around $450 million, if the EAC countries do not reverse an industrialization plan to reduce imported second-hand clothing.#AfCFTA3 replies 13 retweets 9 likesShow this thread -
@SongweVera: Moreover, the "beyond AGOA" agenda for negotiations being set by the US looks likely to target individual "can do" African countries, rather than respond to our regional groupings and integration agenda.#AfCFTA1 reply 19 retweets 9 likesShow this thread -
@SongweVera: At a time when the global trading system seems so uncertain, it is just common sense for us to look at the opportunities closer home. Obviously the#AfCFTA is a tremendous opportunity for businesses in Africa, but it is also much more than this.1 reply 18 retweets 13 likesShow this thread
@SongweVera: The #AfCFTA will simply the cross-border trading regime and create a better environment. We must ensure that it is ratified & we must do so rapidly. Let's work quickly and diligently to ensure we meet the expectations of the continent.
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