Morocco, which rejoined the African Union last year, signed this Wednesday the agreement launching the African Continental Free Trade Area (AfCFTA). The signing ceremony took place at the 10th Extraordinary Summit of the African Union on AfCFTA convened in Kigali, Rwanda. The AfCFTA will make the continent the largest free trade area created since the formation of the World Trade Organization. The Free Trade Area has the potential to transform the fortunes of millions of Africans by boosting trading ties between Africa’s nations. Intra-African trade stands at about 16 pc, compared with 19 pc intra-regional trade in Latin America, 51 pc in Asia, 54 pc in North America and 70 pc in Europe.

Source: The North Africa Journal March 21, 2018 16:18 UTC