28 Africa in the New Trade Environment
7. The MFA governed world trade in textiles and apparel from 1974 through 2004, with quotas imposed on the totals that certain LMICs could export to high-income countries. 8. Chapter 6 provides a discussion of the impacts, challenges, and opportunities of the AfCFTA and the policy implications of the success of this ambitious continental project. 9. As of July 2021, of the 40 countries that have complied with their domestic requirements for ratification, 34 countries have deposited their instruments of ratification with the depositary (Chair of the African Union Commission). 10. The G-20 Compact with Africa was launched in 2017 to promote private investment in Africa, including in infrastructure. Its primary objective is to increase attractiveness of private investment through substantial improvements of the macro, business, and financing frameworks. (“About the Compact with Africa,” G-20 Compact with Africa website: https://www.compactwithafrica.org/content/compact withafrica/home.html).
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