Minister of Trade Industry and Cooperatives of the Republic of Uganda Amelia Kyambadde, and the head of the African Union’s (AU) ministers of trade conference, stressed the need to remove tariff barriers, and to improve the movement of goods and services for the liberalisation of African trade. This came during the meeting of the African Continent Free Trade Area (AfCFTA) Negotiating Institutions held on Wednesday. Kyambadde noted that despite these possibilities, the volume of the intra-African trade does not exceed 10%, compared to 67% between European countries. From his part, Benedict Oramah, president of African Export-Import Bank (Afreximbank) said that the bank is working with the AU on some issues related to the AfCFTA, noting that the bank supports this agreement. It is important to assist African entities in requesting online funding, and we are working on the establishment of a monitoring and follow-up centre in Nigeria, he finally declared.

Source: Daily News Egypt December 12, 2018 15:56 UTC