AfCFTA

(redirected from African Continental Free Trade Area)
AcronymDefinition
AfCFTAAfrican Continental Free Trade Area (African Continental Free Trade Agreement)
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Expect factors such as the African Continental Free Trade Area, AfCFTA, intra-African trade, the Youth Bulge, UN SDGs, education and job creation, industrial and sustainable development, investment and management trends in your sector.
Summary: The African Continental Free Trade Area, launched at the 12th Extraordinary Summit of African Union Heads of State and Government in July 2019, is the largest multilateral trade agreement since the founding of the World Trade Organization.
They will also approve the agenda of the summit titled "advancing Africa's development through people, technology and innovation." TICAD is of great importance to Africa because it is a platform to mobilize resources to develop the continent, a value that doubled after the launch of the executive phase of the African Continental Free Trade Area during the Extraordinary African Union Summit in July in Niger, Shoukry said.
The President believes that the improvement of road networks, together with the expansion of the Tema Port, at a time when it is to host the Secretariat of the African Continental Free Trade Area (AfCFTA), would open the nation up to various advantages.
Namibia has been a firm supporter of African Union reforms and was among the first countries to ratify the African Continental Free Trade Area. Through President Geingob, Namibia is also a highly respected voice in regional security and other matters.
She noted that the region also needs to find ways of reducing transport costs and transit delays in order to prepare the region to benefit from the African Continental Free Trade Area (ACFTA).
The African Continental Free Trade Area ratified by constituent countries of the African Union is a laudable move and care should be taken to address areas that could be constraints to its implementation.
class="font-size--16 MsoNormalThe AfCFTA -- the African Continental Free Trade Area -- is a scheme for demolishing trade barriers among the 55-member African Union.
It provides the industrial capacity as we ready for the African Continental Free Trade Area,' said the Minister.
If successful, the African Continental Free Trade Area would create a 55-nation trade bloc and a single unified market for the continent's 1.3 billion people and boost economic development in an estimated market of $3.4 trillion.
It was a moment of unbridled ovation for Nigeria at the 12th Extraordinary Summit of the African Union on launch of the Operational Phase of the African Continental Free Trade Area (AfCFTA) in Niamey, Niger Republic, when President Muhammadu Buhari pulled the country into the fold after initially sending mixed signals.
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