BROWN BAG SEMINAR SERIES ON ‘’THE IMPACT OF THE AFRICAN CONTINENTAL FREE TRADE AGREEMENT’’

IFPRI Africa cordially invites you to a Brown Bag Seminar on

‘’ The impact of the African Continental Free Trade Agreement’’

Friday, July 5th , 2024

08:30 – 09:30 AM (EST) | 12:30 – 13:30 PM (GMT)

Presented by:

Fousseini Traoré

Senior Research Fellow | IFPRI Markets, Trade, and Institutions Unit| IFPRI

Abstract:

In March 2018, 44 African heads of state met in an Extraordinary summit in Kigali, Rwanda, to sign the framework agreement forming a new African Continental Free Trade Area (AfCFTA). The AfCFTA is a very ambitious project which aims at creating one of the largest free trade areas in the world.  When fully operational, the AfCFTA will cover a region of 1.2 billion people and $2.5 trillion in GDP. The AfCFTA is particularly important as Africa remains the least open continent in the world with the highest intraregional trade tariffs. Therefore, significant impacts are expected from the agreement. The general objective of this research project is to evaluate the macroeconomic and welfare effects of the AfCFTA in African countries. It is based on a dynamic multi-country multi-sector Computable General Equilibrium (CGE) model (MIRAGRODEP) coupled with a microsimulation module. Our analysis shows that, when limited to tariffs liberalization, the AfCFTA can benefit African economies, but the benefits will be small if not accompanied by trade facilitation measures: in the most realistic scenario, intra-African trade will increase by 12%.

Presenter:

Fousseini Traoré is a Senior Research Fellow in IFPRI’s Markets, Trade, and Institutions Unit. He has conducted research on agricultural trade, global cotton subsidies, and access to energy in rural areas in Africa. He is also involved in capacity building efforts in higher education in Africa through expatriate nationals. Prior to joining IFPRI, Fousseini was a Research Fellow at the National Center for Scientific Research in France. He received a PhD in Agricultural Economics from CERDI, University of Clermont Ferrand, France, as well as a double MA in Development Economics and in Projects Appraisal from the University of Clermont-Ferrand.

Moderator:
Sokhna Sall Seck, Communications Specialist, Development Strategies and Governance, IFPRI Africa