LEGAL FRAMEWORK, INSTITUTIONAL MECHANISM AND POLICY TRAJECTORY FOR THE PROMOTION OF MULTILATERAL TRADE DIPLOMACY AND INTEGRATED ECONOMIC DEVELOPMENT OF AFRICA: AN APPRAISAL*

Abstract

The strategic significance of regional economic synergy and multilateral trade collaboration to the socio-economic prosperity and regional integration of Africa has been accentuated by African leaders. This has inspired the enactment of regional trade promotion instruments, formation of economic development institutions and trade enabling policies, as well as the formation of sub-regional economic blocs in Africa. The vision of African Continental Free Trade Area (AfCFTA) was driven by the imperative of transforming Africa’s economic landscape and remodeling the continent into a frontline industrial hub. The legal, institutional and policy framework for realizing this robust vision has been setup. The ensuing question now is: to what extent has these established enabling structures galvanized the realization of the AfCFTA’s vision? The objective here is inter alia to access the impact of the legal instruments, institutional framework and policy mechanism of AfCFTA and their effects on African economic acceleration, regional trade diplomacy and integrated continental development. This work will be relevant to African government institutions, agencies, political and economic leaders, decision makers, economic policy molders, business regulators, captains of industries, investors, business operators, global and regional economic stakeholders, scholars and researchers, etc. The work will also prescribe pragmatic roadmap for the effective realization of the AfCFTA agenda. With doctrinal research approach adopted, this work relies on primary and secondary sources of data including legal instruments, textbooks, journal articles and internet sourced materials. It is recommended that to actualize the AfCFTA dream, African leaders must deploy radical and resolute political Will that is devoid of retrogressive parochial sentiments, towards the implementation of the AfCFTA Agreement.