Daniel Halliday
Jul 10 · Last update 2 mo. ago.

Can the African Continental Free Trade Agreement bring prosperity to the continent?

The African Continental Free Trade Agreement is the largest free-trade agreement to be ratified since the formation of the World Trade Organisation in 1995. As the African Continental Free Trade Area comes into operation following the latest African Union summit in July 2019, what will be the effects of this monumental free-trade area? Will this trade agreement be able to bring much needed economic prosperity to the African continent?
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Yes trade could boost intra-continental trade
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Yes trade could boost intra-continental trade

The African Continental Free Trade Agreement is likely to boost intra-continental trade allowing African economies to grow in a complementary manner. This could represent the first step toward a more cohesive African economic model that could promote continent wide economic growth and reform as it succeeds and further expands. The benefits clearly outweigh the risks for Africa and if all states signed up for the agreement this could be the biggest free trade zone in the world, and as it stands is expected to increase continental trade by 52.3% by 2020 according to the United Nations’ Economic Commission for Africa.

aljazeera.com/ajimpact/african-union-summit-boosting-trade-raise-standards-living-190706050425778.html

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Daniel Halliday
Jul 10
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