AfCFTA to offer 1.5 bn jobs, achieve trade exchange worth $3.4 tn: EJB

January 3, 2021 Ahram online 0 Comments

The African Continental Free Trade Agreement (AfCFTA) is expected to offer jobs for more than 1.5 billion people, with a projected trade exchange worth $3.4 trillion, the trade committee of the Egyptian Junior Businessmen Association (EJB) said in a statement released on Sunday. Head of the committee Mohamed Abdelrahman said that most African states are entirely dependent on imports from outside the continent, a matter which increases the poverty rates and badly affects the continent’s supply chains, especially amid the COVID-19 crisis. Yet, Abdelrahman noted that the agreement faces many major challenges, topped by linking African markets with African producers and the product with the consumer, adding that trade exchange among African countries is difficult. He underlined that problems would emerge by the beginning of the implementation of the agreement, pointing to some countries’ concerns about opening their markets for neighbouring countries. Read More.

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