The African Continental Free Trade Agreement – A Major Boost To Eliminating Poverty In Africa

June 30, 2021 iAfrica 0 Comments

The African Continental Free Trade Agreement (AfCFTA) will create the largest free trade area (since the formation of the World Trade Organisation), in the world measured by the number of countries participating. The pact connects 1.3 billion people across 55 countries on the African continent, with a combined gross domestic product (GDP) valued at US$3.4 trillion.

It has the potential to lift 30 million people out of extreme poverty, but achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures. It will make African countries more competitive. Successful implementation will be key, including careful monitoring of impacts on all workers—women and men, skilled and unskilled—across all countries and sectors, ensuring the agreement’s full benefit. Read More.

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