The AfCFTA provides an opportunity for Africa to create the world’s largest free trade area with the potential to unite more than 1.2 billion people with a gross domestic product of more than $2.5 trillion which is expected to usher in a new era of development.
Trading under the pact commenced on 1 January this year after a postponement for six months as a result of the pandemic.It has the potential to generate a range of benefits through supporting trade creation, structural transformation, productive employment and poverty reduction.
The agreement constitutes a significant milestone towards the realization of the African Union’s Agenda 2063 for the socio-economic transformation of the Continent.
“Accelerating intra-African trade and boosting Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations.”
