Chairperson of the African Union (AU) Commission Moussa Faki Mahamat (C) announces the operational phase of the African Continental Free Trade Area (AfCFTA) Agreement during the launching ceremony in Niamey, capital of Niger, July 7, 2019. Africa launches operational phase of the AfCFTA On July 7, African leaders officially launched the operational phase of the African Continental Free Trade Area (AfCFTA) Agreement at the 12th Extraordinary Summit of the African Union (AU) Heads of State and Government in Niamey, capital of Niger. The AfCFTA calls for a single continental market for goods and services, with free movement of business persons and investment, paving the way for a faster establishment of a customs union. The AfCFTA covers more than 1.2 billion people with a combined gross domestic product of 2.5 trillion U.S. dollars. Fifty-four AU member countries have signed the AfCFTA, marking a milestone for African integration. The agreement will help Africa overcome its structural problems of market fragmentation and tap the potential for economic development, reflecting African countries' will and determination to unite for self-improvement. It is of far-reaching significance to Africa's economic and social development. (Xinhua)
Africa launches operational phase of the AfCFTA
On July 7, African leaders officially launched the operational phase of the African Continental Free Trade Area (AfCFTA) Agreement at the 12th Extraordinary Summit of the African Union (AU) Heads of State and Government in Niamey, capital of Niger.
The AfCFTA calls for a single continental market for goods and services, with free movement of business persons and investment, paving the way for a faster establishment of a customs union. The AfCFTA covers more than 1.2 billion people with a combined gross domestic product of 2.5 trillion U.S. dollars. Fifty-four AU member countries have signed the AfCFTA, marking a milestone for African integration.
The agreement will help Africa overcome its structural problems of market fragmentation and tap the potential for economic development, reflecting African countries' will and determination to unite for self-improvement. It is of far-reaching significance to Africa's economic and social development.
