AfCFTA aims to bring free trade to continent within a decade
Liberalised trade regime will lead to integrated market with tariffs phased out on 97% of lines within 10-13 years
The African Continental Free Trade Area (AfCFTA), one of the largest trading blocs in the world with the majority of African countries now operating under its preferential trade framework, commenced on January 1. Its liberalised trade regime will gradually lead to an integrated continental market with tariffs phased out on 97% of tariff lines within 10-13 years.
Intra-African trade has been growing steadily and AfCFTA would accelerate that by removing the trade barriers that have caused the fragmentation of African economies. It should make basic necessities more accessible and affordable to the average African consumer by opening avenues for regional suppliers of processed goods to reach their target consumers more easily and allow payment options through local currencies...
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