How the African Continental Free Trade Agreement is Scaling up Local Content Initiatives in Nigeria

September 30, 2021 Business Ghana 0 Comments

Implemented on January 1, 2021, the African Continental Free Trade Agreement (AfCFTA) is considered the foundation for enhanced cross-continental trade in Africa. Signed by 54 countries, the agreement comprises the reduction of tariff and non-tariff barriers, the simplification of custom procedures, and the elimination of red tape with the aim of creating a single market for goods, persons and services. Representing the largest economy in Africa, with over $500 billion in Gross Domestic Profit (GDP) and a population of 200 million people, Nigeria is poised to significantly gain from both investment and trade opportunities created by the AfCTA. Read More.

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