New agreement to boost intra-African trade
BUSINESS REPORTER
The AfCFTA Secretariat has signed a memorandum of understanding with the World Customs Organisation (WCO) aimed at operationalising the tariff schedules and ensuring additional free and efficient movement of goods in a major boost for intra-African trade.
The MoU was signed in Brussels, Belgium this week by AfCFTA Secretariat Wamkele Mene and his WCO counterpart Kunio Mikuriya.
The MoU is touted as the next logical step for the two organisations as they work to reduce barriers to trade across Africa by connecting customs systems, populating the AfCFTA Tariff Book and providing capacity building for Customs officials and administration.
The collaboration is set to capacitate the AfCFTA with technological systems that would allow standardisation of data and connectivity of customs systems, a developed AfCFTA e-Tariff-Book and enhanced skills and expertise of Customs officials in operationalising the AfCFTA.
It will also result in migration of all AfCFTA Member States to HS 2022 and effective start of trading using the AfCFTA tariff Book.
“The MoU would enable the WCO to partner with the AfCFTA in ensuring that Customs Administrations are fully equipped to implement the AfCFTA Agreement,” Mene said.
