Consolidating African Regional Integration through the African Continental Free Trade Area: Lessons from the ASEAN Free Trade Area

The African Continental Free Trade Area (AfCFTA) - covering 54 member states with a combined 1.2 billion people (expected to reach 2.5 billion by 2050) and making up US$2.5 trillion gross domestic product (GDP) - is estimated to increase the value of intra-African trade by between 15% (US$50 billion) and 25% (US$70 billion) in 2040. On the other hand, the Association of South-East Asian Nations (ASEAN) Free Trade Area has an almost similar socio-economic and political foundation as that of the AfCFTA, having been established in 1992 (and entered into force in 1993) to boost intra-ASEAN trade, industrialisation and attract investments. The ASEAN bloc - which has a population of 600 million people - is forecasted to become the world's fourth-largest economy by 2030, comprising a consumer market of over US$4 trillion. Notwithstanding the reality that the AfCFTA and the ASEAN FTA are in two different environments and contexts with peculiar socio-economic and political dynamics, the ASEAN FTA journey presents valuable lessons for the consolidation of African regional integration through the AfCFTA as the two FTAs also share pertinent similarities and commonalities. This article, therefore, sought to examine the prospects of the AfCFTA in consolidating African regional integration, drawing practical lessons from the ASEAN FTA trajectory, specifically the successes, challenges, complexities and emerging issues that have been confronting the ASEAN FTA since 1992. Methodologically, the article utilised secondary data from various sources for analysis and quantitative data analysis from ASEANStats, United Nations Conference on Trade and Development (UNCTAD), African Union and other datasets. The concept of regional economic integration provided a conceptual framework of analysis for the study. Findings from the study were key in identifying lessons (technical, coordinatory, institutional, macro-economic, political, etc.) that the AfCFTA member states may draw on to ensure its successful implementation.