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It was established in 2018 by the African Continental Free Trade Agreement, which has 43 parties and another 11 signatories, making it the largest free-trade area by number of member states, after the World Trade Organization, and the largest in population and geographic size, spanning 1.3 billion people across the world's second ...
- May 30, 2019; 4 years ago
- Kigali, Rwanda
- March 21, 2018
- Free-trade area
El acuerdo inicialmente requiere que sus firmantes eliminen los aranceles del 90 % de los bienes, dando libre acceso a bienes y servicios a través del continente. La Comisión Económica para África de las Naciones Unidas estima que el acuerdo aumentará un 52 % el comercio intraafricano para 2022.
The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union (AU) and eight (8) Regional Economic Communities (RECs). The overall mandate of the AfCFTA is to create a single continental market with a population of about 1.3 billion people and a combined GDP of approximately US$ 3.4 trillion.
- afcftacommunications@18.170.78.86
The African Continental Free Trade Area (AfCFTA) agreement will create the largest free trade area in the world measured by the number of countries participating. The pact connects 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion.
- Signing
- The Trade Blocs
- Historic Significance of The AFTZ
- Member States
The leaders of the three AFTZ trading blocks, COMESA, EAC, and SADC, announced the agreement, with the aim of creating a single free trade zone to be named the African Free Trade Zone, consisting of 26 countries with a GDP of an estimated US$624bn (£382.9bn). It was hoped that the African Free Trade Zone agreement would ease access to markets withi...
The three trade blocs that agreed to and make up the AFTZ, the COMESA, the EAC and the SADC, are already well-established in their own right and cover varying swathes of land, economic systems, political systems and a varied number of peoples (which includes Arabs in the North, multi-racial peoples in the East and South, including significant numbe...
The EAC-SADC-COMESA Summit is considered historic because for the first time, since the birth of the African Union, several key building blocks of the EAC have met on how to integrate territories and moving towards deepening and widening integration within the overall Abuja Treatyfor the establishment of the AEC. Further, for the first time a truly...
The EAC-SADC-COMESA's African Free Trade Zone membership includes the following countries: 1. Angola 2. Botswana 3. Burundi 4. Comoros 5. Djibouti 6. Democratic Republic of Congo 7. Egypt 8. Eritrea 9. Ethiopia 10. Kenya 11. Lesotho 12. Libya 13. Madagascar 14. Malawi 15. Mauritius 16. Mozambique 17. Namibia 18. Rwanda 19. Tanzania 20. Seychelles 2...
- Agreement
- Trade bloc
Key Provisions of the Agreement: The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union (AU) and eight (8) Regional Economic Communities (RECs) to create a single market for the continent.
The Agreement establishing the AfCFTA was signed on 21st March in Kigali, Rwanda. The AfCFTA entered into force on 30th May 2019 and the Operational Instruments governing trade under the AFCFTA regime were launched in Niamey, Niger in July 2019. Trading under the AfCFTA regime commenced on 1st January 2021.
