Regional trade agreements and economic integration in Africa: assessing the impact of the African Continental Free Trade Area (AFCFTA)

  • Oluwatosin Esther Ajewumi
  • Jide Adedamola Afolabi
  • Ikenna Joe-Akunne
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Abstract

This article examines the impact of Regional Trade Agreements (RTAs) on economic integration in Africa, focusing on the African Continental Free Trade Area (AfCFTA). As the largest free trade area globally, AfCFTA aims to create a unified market for goods and services across 55 African Union member states, fostering economic growth, reducing trade barriers, and enhancing intra-African trade. This article assesses the potential economic benefits of AfCFTA, including increased market access, industrialization, and job creation. It also considers the challenges of implementation, such as infrastructure deficits, varying levels of economic development, and non-tariff barriers. Through case studies of key African economies, including South Africa, Nigeria, and Kenya, the article explores how AfCFTA is reshaping trade dynamics and regional cooperation. Furthermore, it evaluates the role of AfCFTA in addressing Africa’s dependence on external markets and enhancing global competitiveness. The article concludes by providing recommendations for policy reforms, capacity building, and regional cooperation needed to maximize the benefits of AfCFTA. By analyzing both opportunities and challenges, this article offers insights into how AfCFTA can drive deeper economic integration and sustainable development across the African continent.

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APA

Oluwatosin Esther Ajewumi, Jide Adedamola Afolabi, & Ikenna Joe-Akunne. (2024). Regional trade agreements and economic integration in Africa: assessing the impact of the African Continental Free Trade Area (AFCFTA). World Journal of Advanced Research and Reviews, 23(3), 2783–2801. https://doi.org/10.30574/wjarr.2024.23.3.2965

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