The Economic Affairs Committee of the House of Representatives will hold a meeting on Wednesday afternoon to consider the decision of the President of the Arab Republic of Egypt No. 87 of 2019 concerning the approval of the agreement establishing the African Free Trade Area and its annexed Protocols, signed in Kigali on March 21, 2018, in conjunction with the two committees of the Plan, African Council.
This came after the approval of the Committee on Constitutional and Legislative Affairs of the House of Representatives, during its meeting last Sunday, on 7 agreements, confirming the absence of any violation of the Constitution and the law, foremost among which was the President's decision on the founding agreement of the African Free Trade Area and its annexed protocols, concurrently with the receipt of President Abdel Fattah President of the African Union.
The President's decision contained a single article stating that "in accordance with the founding agreement of the African African Free Trade Area and its annexed Protocols, signed at Kigali on 21 March 2018, with the reservation provided that ratification".
The agreement is one of the important agreements signed by Dr. Tariq Qabil, former Minister of Commerce and Industry on March 21, 2018, in Kigali, aimed at increasing intra-OIC trade and enhancing the competitiveness of industry in Africa.
According to the explanatory memorandum, these objectives are achieved through the gradual elimination of customs and non-tariff barriers to trade in goods and services to reach the customs union in the African continent.
The institutional framework for the implementation of the African Free Trade Area (AFTA), according to the agreement, consists of the Conference, the Council of Ministers, the Committee of Senior Officials Responsible for Trade and the Secretariat with a view to implementing, managing and evaluating the region.