Negotiations towards finalising the African Continental Free Trade Area (AfCFTA) agreement have been progressing speedily, and a number of constituent protocols have been successfully adopted. Among them is the Protocol on Investment, which seeks to harmonise the regulatory environment for intra-African investment while promoting, protecting and facilitating investment flows. Of particular interest is the protocol’s provision for a new continental institution – the Pan-African Trade and Investment Agency, PATIA.
This agency will essentially be a continental investment promotion agency (IPA) and will be mandated to help coordinate investment promotion and facilitation efforts of the AfCFTA state parties. It will serve as a platform for coordination and exchanges among state parties, facilitating the sharing of trade-related data, opportunities for investment, knowledge sharing and industry best practices. Additionally, the agency will work with governments and national investment promotion agencies in enhancing their capacity to develop and implement investment strategies that encourage investments within Africa, especially those that lead to a growth in exports.
Read full article by Teniola Tayo and Keith Martin published by the Africa Policy Research Institute: The AfCFTA and the Vision for a Pan-African Investment Agency
