Zlecaf: launch suspended due to coronavirus
Text by: Olivier Rogez Follow
The effective implementation of the African Continental Free Trade Zone (the famous Zlecaf), first scheduled for July 1, 2020, has been postponed according to the South African Wankele Mene, secretary general of the organization. The cause: the Covid-19 pandemic, which caused the confinement of half the planet and a major upheaval in world trade. No new date has been announced.
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Read more" It is not possible to start on July 1, under the current circumstances ": the announcement of Wamkele Mene, the general secretary of Zlecaf, did not surprise anyone at a time when the countries are confined and when the global trade is halted due to the Covid-19 pandemic . More worrying, however, he did not indicate a new timetable for the effective start of Zlecaf , contenting himself with specifying that the political commitment of African leaders remained intact.
Another blow for African economies
Entered into force a year ago, the Free Trade Zone was to officially start on July 1, 2020. It consists in gradually abolishing regulatory and tariff barriers to increase intra-African trade. This is only 16% on average for the countries of the continent. Africa remains very dependent on the outside world, to which it sells its raw materials and buys finished products.
The false start of Zlecaf is all the more damaging since many, starting with the World Bank, are currently pleading for a strengthening of trade between African countries, in order to support economies largely deprived of their foreign outlets.
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