A New Era for African Trade
Written by Mfundo on 5 December, 2020
By: Mfundo Mabaso
African Union Chairperson, President Cyril Ramaphosa says the commencement of trading under the African Continental Free Trade Agreement on the 1st of January 2021 is one of the most significant milestones in the continental integration project.
Ramaphosa says this during his opening statement at the 13th Extraordinary Session of the AU Assembly on this treaty.
This treaty requires members to remove tariffs from 90% of goods, allowing free access to commodities, goods, and services across the continent.
He says the AfCFTA will boost intra-African trade, it will promote industrialisation and competitiveness and also contribute to job creation.
Ramaphosa further says that this treaty must facilitate greater trade opportunities for women, and focus on removing non-tariff barriers to trade.
