This Regulation approves the ratification of the Agreement creating the African Continental Free Trade Area (AfCFTA) and respective Protocols. The general objectives of the AfCFTA are: (a) create a single market for goods and services, facilitated by the movement of people, in order to deepen the economic integration of the African continent and in accordance with the Pan-African Vision of "a Peaceful Africa, Prosperous and Integrated" in Agenda 2063; (b) create a liberalized market for goods and services, through successive rounds of negotiations; (c) contribute to the movement of capital and individuals, facilitating investments based on initiatives and developments in the States Parties and in the RECs; (d) create a continental customs union at a later stage; (e) promote and achieve sustainable and inclusive socio-economic development, gender equality and structural transformation of States Parties; (f) reinforce the competitiveness of the economies of the States Parties in the continental and world markets; (g) promote industrial development through the development of regional value chains, agricultural development and food security; (h) resolve challenges related to multiple membership, as well as accelerate regional and continental integration processes. The Agreement establishes that States Parties must: (a) progressively eliminate tariff and non-tariff barriers to trade in goods; (b) progressively liberalize trade in services; (c) cooperate in the field of investment, intellectual property rights and competition policy; (d) cooperate in all areas related to trade; (e) cooperate in customs matters and in the implementation of trade facilitation measures; (f) establish a mechanism for the resolution of disputes relating to rights and obligations; (g) establish and maintain an institutional framework for the implementation and administration of the AfCFTA.
Mozambique · 2023-12-30