Trade in Goods
The African Continental Free Trade Area (AfCFTA) aims to create a single market for goods and services in Africa. It is considered the largest free trade area in terms of participating countries. It encompasses 54 African countries, representing a combined population of over 1.3 billion people and a combined GDP of more than $3.4 trillion.
The AfCFTA presents considerable opportunities for expanding trade among African nations. With the establishment of the free trade area, African traders now have preferential access to a much larger market.
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The AfCFTA is a phased agreement and the full elimination of tariffs and other trade barriers will be implemented gradually over time. It is anticipated that as the agreement progresses, African exporters will benefit from increased trade opportunities and improved market access across Africa.
Agriculture
Textiles and Apparel
Pharmaceuticals
Automotives
Metals and Minerals
Trade in Services
The African Continental Free Trade Area (AfCFTA) represents a historic milestone in Africa's aspirations towards achieving economic integration. With the ambitious objective of creating a single market for goods and services across the continent, the AfCFTA is expected to help unlock Africa's trade potential and encourage sustainable development for a prosperous future.