AfCFTA good for trade

The African Development Bank (AfDB) has reported that the implementation of the African Continental Free Trade Area (AfCFTA) would raise intra-African trade by 15 per cent.
The implementation of AfCFTA would result in a net gain of 2.8 billion U.S. dollars in real income for Africans.
Hanan Morsy, director of the AfDB’s macroeconomic policy department, said in Addis Ababa.
African countries can help in the implementation of AfCFTA through domestic legislations that eliminate bilateral trade tariffs, by removing non-trade barriers on goods and services, opening their skies to African airlines and allowing free movement of people across borders.
African Union has also said six more member states were expected to deposit ratifications of the AfCFTA, bringing the number of ratifications to 17.
The AU said a total of 22 ratifications are needed for AfCFTA to come into force, helping establish the largest free trade area in the world in recent years.
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