World Bank Sees Côte d'Ivoire as Biggest Beneficiary of AfCFTA
Côte d’Ivoire could be the biggest beneficiary from the African Continental Free Trade Area , the World Bank has said in its report on “The African Continental Free Trade Area: Economic and Distributional Effects.”
The AfCFTA came into force last year and has been touted for several years as the real future lever of African trade integration. Under the scenario developed by the World Bank, this zone could have financial, economic and social impacts for the entire continent. While intra-continental trade currently accounts for only 15 per cent of Africa’s total trade , it is expected to jump by 81 per cent while those of non-African countries increase by 19 per cent.
The World Bank explained this scenario by the fact that “only a small share of tariff revenues come from imports from African countries ,” and also “exclusion lists can shield most tariff revenues from liberalisation because these revenues are highly concentrated in a few tariff lines ”.
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