Unleashing Africas Trade Potential: Overcoming Barriers to Intra-African Commerce

Abstract

Inter Trade in Africa African countries diversify their trade, with Europe and America being their prime targets. Trade is Africa’s key element to economic growth. Many factors discourage trade among African countries. Africa needs foreign currencies to develop its infrastructure, which they cannot get for neighboring countries. African countries are poor and have poor transport and communication infrastructure. They cannot be dependent on each other. Non-tariff barriers such as port congestion, technical barriers to trade, high trade taxes, and inefficient customs procedures limit border trade (Songwe 102) TFTA is a proposed trade agreement to harbor COMESA, SADC, and EAC forming a common market. It is a tool to stimulate intraregional trade and strengthen the relationship by creating an African Economic Community. TFTA will provide more comprehensive market access, encourage economic growth, promote quality improvement and innovation, more choice of products and services, and a powerful position in international treaty negotiations. Free trade areas in Africa face challenges, and they cannot live up to their expectations. Some of these challenges include; poor road networks, corruption, political unrest, and bureaucracy. These challenges inhibit the economic progress and development of the continent. Efforts to implement free trade follows resistance from the country's domestic groups who fear losing in the hands of competitive neighbors (Bavier) The most significant and potential impact of CFTA on Africa could be inter African trade. This will promote infrastructure development and the alienation of poverty on a substantial scale. CFTA can promote structural transformation, economic benefits, and industrialization of the African continent. It fosters a step in eliminating non-tariff barriers such as customs delays hence a common market for the Africans. Works Cited Bavier, Joe. "African free trade bloc opens for business, but challenges remain." Reuters (2021). Songwe, Vera. "Intra-African trade: A path to economic diversification and inclusion." Coulibaly, Brahima S..: Foresight Africa: Top Priorities for the Continent in (2019): 97-116.