African leaders to launch continent-wide free trade zone
Posted Jul 7, 2019 9:08 am.
JOHANNESBURG — Several African heads of state have gathered in Niger’s capital to launch a continentwide free trade area.
The African Continental Free Trade Area aims to create a single unified market for the continent’s 1.3 billion people and to boost economic development in an estimated market of $3.4 trillion.
Plans for the free trade zone received a boost last week when Africa’s largest economy, Nigeria, became the 25th country to ratify the trade agreement.
The general agreement has been signed by 54 of Africa’s 55 countries, with only Eritrea not signing up.
The location of the zone’s headquarters and a timeline for the start of trading are expected to be announced at the African Union summit in Niamey on Sunday.
The Associated Press
