As protectionist policies find favour around the world, Africa's Tripartite Free Trade Area could buck the trend and give the continent a much-needed shot in the arm. However, there is still much to be agreed upon before it can be implemented.

At a time when inward-looking nationalism is stalking many of the world’s major economies, Africa has an opportunity to become a champion of open borders and free trade. The Tripartite Free Trade Area (TFTA), an unratified pan-regional free-trade zone stretching from Cairo to Cape Town, is a beacon of optimism for globalists and free-trade advocates everywhere. More importantly, it offers a genuine opportunity for the economies of Africa to achieve the kind of integration and cross-border trade that has eluded the continent for too long.

The plan – to create a single market for goods across 26 of Africa’s 54 countries – is ambitious and the stakes for Africa are high. In its recent history, the continent has conducted more trade with international partners, including Europe, than it has at an intra-regional level. This is also true for Africa’s cross-border payments, which are typically cleared through institutions in the US or elsewhere. The development of the TFTA, and non-associated but convergent initiatives such as integrated regional settlement systems, thus reflect a push to promote growth in Africa for Africa.

The TFTA requires ratification and a number of outstanding issues, including market liberalisation and rules of origin issues, stand in the way of its implementation. As a result, progress has been slow and deadlines for agreement have been missed on more than one occasion. The complexity of these negotiations and their attendant risks are the main hindrance.

But ambition and strong leadership are needed from the TFTA’s constituent members to push this initiative forward. Most participants acknowledge that 2017 is likely to be a ‘do or die’ year for the agreement. Get it right, and the TFTA will become one of the most profound examples of regional integration and economic co-operation anywhere in the world; with a combined gross domestic product of $1300bn and a population of more than 600 million, it would be a genuine trading heavyweight. Get it wrong, and Africa’s economic development is likely to be hindered further.

A region of such abundance and opportunity must now become the engine of its own growth, free from the constraints of a reliance on external partners.

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