Trade agreement ideal to create jobs in Africa, notably for the young
Closer trade integration will be a driver of economic transformation, delivering higher growth and more jobs, writes Abebe Aemro Selassie
The African Continental Free Trade agreement (AfCFTA) has the potential to establish a market of 1.2-billion people with a combined economic production of $2.5-trillion. This is an exciting prospect for a region that has been striving for greater integration for a long time. Trade integration can help propel development and has prompted success stories in other regions. The momentum for the agreement to become a reality has been strong. About a year since its launch in Kigali in March 2018, 52 out of 55 countries on the continent have signed the agreement and 22 have already ratified it, which means the threshold for the agreement to take effect has been met. What does this mean for the countries that are part of the agreement? The promise of closer trade integration is that it is a driver of economic transformation, delivering higher growth and more jobs. A large free trade area in Africa will provide a single market for goods and services, help spread knowledge and technology, and...
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