Liberia: FALAS Applauds President Weah for Submitting the “Africa Continental Free Trade Area” Bill Before the Legislature

Monrovia – The Federation of African Law Students (FALAS) has lauded President George Weah for submitting before the legislature the bill to rectify the Africa Continental Free Trade Area.

President Weah on the 30th of January 2023, at his sixth annual State of the Nation Address to Liberians and other nationals residing in Liberia, indicated that an agreement establishing the African Continental Free Trade Area is one of his flagship bills among others submitted before the legislature and currently pending ratification.

The Federation of African Law Students (FALAS), is a unifying body for Law Students on the African Continent and the president is Siaffa Bahn Kemokai, a senior student at Louis Arthur Grimes School of Law at the University of Liberia.

Kemokai in a release applauds the President for such development adding that it is welcoming not only for Liberia but the entire Africa Continent. 

“FALAS believes that Africa needs to have economic freedom and market transition. If the countries will have better economies, then Africa will need to have high annual growth and a great degree of wealth creation,” the release signed by president Kemokai quoted.

The release added: “So the higher the degree of our economic freedom, the stronger the performance of our economy. This is simply because when there is a free economy, there will be competition everybody tent to do or try to achieve more and maximize his or her potential as a result of that everybody would like to grow from the position he or she is before.”

The African Continental Free Trade Area (AfCFTA) is the world’s largest free trade area bringing together the 55 countries of the African Union (AU) and eight (8) Regional Economic Communities (RECs) to create a single market for the continent. 

The aim is to enable the free flow of goods and services across the continent and boost the trading position of Africa in the global market. 

According to Kemokai, it is estimated that the AfCFTA has the potential both to boost Intra-Africa trade by 52.3 percent by eliminating import duties and to double this trade if non-tariff barriers are also reduced. 

With average tariffs of 6.1 percent, businesses currently face higher tariffs when they export within Africa than on the continent, he says.

“The AfCFTA will progressively eliminate tariffs on intra-Africa trade, making it easier for African businesses to trade within the continent and benefit from the growing African market. AfCFTA is expected to expand the size of Africa’s economy to US$29 trillion by 2050,” Kemokai said.

FALAs president noted: “FALAS notes that the Agreement for the African Continental Trade Area is keenly aligned with its vision which seeks to create a platform for African law Students to interact and work towards building a formidable continental legal community.” 

FALAS president says his institution sees the pronouncement as a determined advantage for massive partnership building in pursuit of the collective goal of maintaining the rule of law as a panacea for national development on the continent and calls on the Liberian Legislature for the speedy ratification of the AFCFTA bill submitted by President Weah.

He added: “Ratification of said agreement in more nations will strengthen existing strides in the sector. Meanwhile, FALAS will shortly host a Continental Moot Court Competition for member Countries with sponsorship from the Association of Legislative Drafting and Advocacy Practitioners (ALDRAP) of Nigeria and the Private Sector Investment.”

The Moot Court competition he says will be conducted virtually with finalists taken to Kigali, Rwanda for an in-person appearance, and issues surrounding the African Continental Trade Agreement (AfCTA) will be one of the essential areas to be deliberated. 

“This event will present an opportunity for law students from across Africa to come together while debating legal issues that would help provide sensitive insights on the rule of law, peace, and security,” he noted.