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  • New Year's Day marked the dawn of a new era for trade in Africa.

  • A new continent wide free trade area came into force after months of delays.

  • Experts view the launch is largely symbolic, with full implementation of the deal expected to take years, but the World Bank estimates it could lift tens of millions out of poverty by 2035.

  • The African Continental Free Trade Area aims to bring together 1.3 billion people in a $3.4 trillion economic bloc that would make it the largest free trade area since the establishment of the World Trade Organization.

  • Backers say it will boost trade among African neighbors while allowing the continent to develop its own value chains.

  • But obstacles remain and must be overcome if the block is to reach its full potential from red tape and poor infrastructure to entrench protectionism.

New Year's Day marked the dawn of a new era for trade in Africa.

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B1 free trade trade african continent area full potential

African free trade bloc opens for business

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    林宜悉 posted on 2021/01/01
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