On January 1,2021,the online launch ceremony for the African Continental Free Trade Area(AfCFTA)marked the official start of trading among African countries under the new continent-wide free trade area.The Agreement Establishing the African Continental Free Trade Area,as the legal basis for the AfCFTA,serves as a framework pact that covers trade in goods,services,investment,intellectual property rights,competition policy as well as dispute settlement.So far,the first phase of negotiations has been basically concluded,with the signing of protocols on trade in goods,trade in services,and rules and procedures on the settlement of disputes,while negotiations on some other issues,including the rules of origin,the schedules for tariff concessions,and the schedules of specific commitments for trade in services,especially in the five priority sectors of business,communications,finance,tourism and transport,are still underway.And Phases II and III negotiations are expected to be finalized by the end of 2021.
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