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2. AfCFTA will have cascading effects. It will drive the structural transformation of economies—the transition from low-productivity, labor-intensive activities to higher- productivity, skills-intensive industrial and service activities—which, in turn, will produce better-paying jobs and reduce poverty. By promoting intra-African trade, the agreement will foster a more competitive manufacturing sector and promote economic diversification. The removal of tariffs will create a continental market that encourages companies to benefit from economies of scale and enable countries to accelerate their development (Signé 2020; World Bank 2020a, 21).
References AfDB (African Development Bank Group). 2020. African Economic Outlook 2020: Developing Africa’s Workforce for the Future. Abidjan: African Development Bank. https://www .africaeconomiczones.com/wp-content/uploads/2020/03/African-Economic-Outlook -2020-Developing-Africa%E2%80%99s-Workforce-for-the-Future.pdf. European Commission. 2019. “The European Green Deal.” Communication from the Commission to the European Parliament, the European Council, the European Economic and Social Committee, and the Committee of the Regions, European Commission, Brussels. https://ec.europa.eu/info/sites/info/files/european-green-deal-communication_en.pdf. Gouel, Christophe, and David Laborde. 2019. “The Role of Trade in Adaptation to Climate Change.” Vox EU, Centre for Economic Policy Research (CEPR), London. https://voxeu .org/article/role-trade-adaptation-climate-change. IFAD (International Fund for Agricultural Development). 2019. “Socialist Republic of Viet Nam: Country Strategic Opportunities Programme (COSOP) 2019–2025.” IFAD, Washington, DC. Nguyen, Van Tue, Tang The Cuong, Nguyen Khac Hieu, Tran Thuc, Huynh Thi Lan Huong, Bui Huy Phung, Nguyen Mong Cuong, et al. 2019. “The Third National Communication of Vietnam to the UNFCCC.” Government of Vietnam, Hanoi. Oh, Jung Eun, Maria Cordeiro, John Allen Rogers, Khanh Nguyen, Daniel Bongardt, Ly Tuyet Dang, and Vu Anh Tuan. 2019. Addressing Climate Change in Transport. Vol. 1: Pathway to Low-Carbon Transport. Vietnam Transport Knowledge Series. Hanoi: World Bank. https:// openknowledge.worldbank.org/handle/10986/32411. Signé, Landry. 2020. Unlocking the Business Potential of Africa: Trends, Opportunities, Risks, and Strategies. Washington, DC: Brookings Institution. https://www.brookings.edu/book /unlocking-africas-business-potential/. UNCTAD (United Nations Conference on Trade and Development). 2017. Making Trade Work for Gender Equality: From Evidence to Action. Geneva: United Nations. https://unctad .org/meeting/making-trade-work-gender-equality-evidence-action. UNCTAD (United Nations Conference on Trade and Development). 2019. Key Statistics and Trends in Regional Trade in Africa. Geneva: United Nations. UNCTAD (United Nations Conference on Trade and Development). 2021. Trade and Environment Review 2021: Trade Climate Readiness for Developing Countries. Geneva: United Nations. World Bank. 2018. “Port Development and Competition in East and Southern Africa: Prospects and Challenges, 2018.” World Bank, Washington, DC. http://documents1.worldbank.org /curated/en/963231561663013431/pdf/Country-and-Port-Fact-Sheets-and-Projections .pdf. World Bank. 2020a. The African Continental Free Trade Area: Economic and Distributional Effects. Washington, DC: World Bank. doi:10.1596/978-1-4648-1559-1. World Bank. 2020b. “Climate Risk Country Profile: Ethiopia.” World Bank Group, Washington, DC. https://climateknowledgeportal.worldbank.org/sites/default/files/2020-06/15463-WB _Ethiopia%20Country%20Profile-WEB_v2.pdf.
