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Sunday, 16 December 2018

Egypt, African nations see eye to eye on AfCFTA

African nations see eye to eye on AfCFTA: African trade ministers have reached consensus on the need to expedite the implementation of goods and services trade liberalization under the African Continental Trade Area (AfCFTA), according to a Trade Ministry statement (pdf). The ministers, who met in Cairo last week, also agreed on the application mechanism, the statement noted, without providing further detail. The AfCFTA was signed in March 2018 by 44 countries with the goal of creating a pan-African single market and eventually, a single currency, alongside unobstructed movement for persons. The agreement will formally exist once at least 22 signatory governments ratify it.

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