trade minister Moses Kuri

The World Customs Organization (WCO) has published a Guide for Rules of Origin under the African Continental Free Trade Area (AfCFTA) agreement

The World Customs Organization (WCO) has published a Guide for Rules of Origin under the African Continental Free Trade Area (AfCFTA) agreement

 

March 01, 2023

The main objectives of the African Continental Free Trade Area (AfCFTA) agreement are to create a single continental market for goods and services with free movement of business persons and investments, and thus to pave the way to accelerate the establishment of a customs union in the future.

 

The AfCFTA agreement has the ultimate goal of increasing the ease of trade and investment across African borders as well as eliminating tariffs on intra-African trade, reducing unemployment, increasing infrastructure development and creating a more competitive and sustainable environment for cross-border trade.

The AfCFTA entered into force on 30 May 2019, and trade under the AfCFTA started on 1 January 2021.

 

Rules of Origin

In order for goods to benefit from the AfCFTA agreement and be imported with no or lower customs duties within the AfCFTA trade area, they will need to comply with the AfCFTA rules of origin as provided by Annex 2 on Rules of Origin (Annex 2) and its Appendix IV (Appendix IV) of the AfCFTA Protocol on Trade in Goods.

 

What are rules of origin and why are they needed?

Rules of origin regulate and determine the “economic nationality” of a product. They specify the conditions that a product needs to fulfill to be considered to originate in the free trade area. This may include using documentary proof of origin issued by a designated competent authority or by satisfying other various criteria for the tariff codes of the Harmonised System.

Products that fulfill AfCFTA rule of origin criteria will benefit from preferential treatment within the AfCFTA area, primarily importation at a free or lower import duty rate.

 

 

READ FULL ARTICLE HERE

 

Find out about:

How do products attain AfCFTA origin?

Flexibility of AfCFTA rules of origin

Other rule of origin requirements

Proving the origin of AfCFTA products

 

Global Compliance News (@GComplianceNews) / Twitter

No Comments

Sorry, the comment form is closed at this time.

Translate »