On the other hand, the prospects look promising: if the free trade area is fully implemented, it will offer the opportunity to lift 30 million people out of extreme poverty, according to a new World Bank report. By 2035, income is expected to increase by $450 billion on the continent. The partial or complete lockdown of African countries, in response to the COVID-19 pandemic, means that intra-African trade remains low compared to other regions. Nigeria has closed its borders since October 2019 to combat smuggling and boost the growth of the national agricultural industry. By postponing the AfCFTA exchange date, Nigeria, a country that plays an important role in intra-African trade, may not see the urgent need to reverse its protectionist policy. Bwalya said some effects on Africa, which also affect the decline in GDP, will come from depressed economic performance. «Much of it could be attributed to disruptions in global distribution chains – and for Africa, with a huge import and export burden, the effects are not only significant, but also underscore the continent`s vulnerability to such shocks.» According to Maryla Maliszewska, an economist at the World Bank and lead author of the report, African countries should have an interest in advancing the free trade area. «Trade is important to build sufficient resilience to future shocks,» the economist said. Reflection on trade should not be postponed until later. «This is a crucial factor in recovering from the pandemic.» As regards trade in services, an important part of the global agreement, Mr.
Afful found that few countries have completed their calendar, but exchanges cannot be done without each country`s calendar. Kampala – Originally scheduled for July 1, 2020, the implementation of the African Continental Free Trade Area (AfCFTA) has been postponed indefinitely due to the Covid 19 pandemic. There seems to be some reluctance on the part of some African countries to ratify the AfCFTA agreement. . . .