Continental Free Trade Area to Go Active in July

May 4 , 2019


Continental Free Trade Area to Go Active in July

The African Continental Free Trade Area, which aims to create a single continental market for goods and services, will officially enter into force in July. It is expected to start during the next Extra-Ordinary Heads of State and Government summit slated for July 7, 2019 in Niamey, Niger. Ethiopia is one of the signatories of the agreement with South Africa and Egypt; while Nigeria, which has Africa’s biggest economy, has not ratified the convention yet. The Agreement is expected to create a market for over one billion people with a GDP of approximately 2.6 trillion dollars. The African ministers of Trade are also scheduled to meet in Kampala, Uganda in the first week of June to review work on the supporting instruments ahead of the summit.


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