more-inThe African Continental Free Trade Area (ACFTA) is a potential game changer for the world’s poorest region. In recent years, intra-regional commerce as a share of Africa’s overall trade has risen to 15% from 8% in 2011, points out Moody’s, the ratings agency. With a number of African countries ranking among the world’s fastest-growing economies over the last two decades, the ACFTA could tap into the immense potential for closer trade integration. Moody’s also points out that exports in manufactured goods within the continent are more than double the exports to countries outside it. That would double if non-tariff barriers are scrapped, says the UN Economic Commission for Africa.

Source: The Hindu May 06, 2018 18:45 UTC