outdated (or non-existent) infrastructure and regional fragmentation. If it is successful, it will become the largest free trade zone in the world and could play a leading role in lifting millions out of poverty. Progress, however, will be hard-won. The...
Nigeria's free trade zone (FTZ) legislation has been in place for 17 years, but progress in implementation has been uneven and slow. The main FTZ in which Chinese companies play a significant role is the Lekki Free Trade Zone, where work began in 2006. A Chinese consortium led by the Ch...
Nigeria has put aside its worries about its economy and is getting behind the African continental free trade deal.
In 2018, 44 members of the African Union agreed to join a continental free-trade zone that, once operational, would create the largest market for goods in the world. Trading commenced under the agreement in 2021 with all but one African country agreeing (in principle) to participate. So far...
The UN Economic Commission for Africa (ECA) said the free trade pact, if ratified by all the 55 African countries, will be regarded as the world's largest free trade zone by the number of countries, covering more than 1.2 billion people with a combined GDP of 2.5 trillion U.S. dollars...
NIAMEY (Reuters) - African leaders met on Sunday to launch a continental free-trade zone that if successful would unite 1.3 billion people, create a $3.4 trillion economic bloc and usher in a new era of development. After four years of talks, an agreemen
The AU said the AfCFTA "has laid the foundation" for what could be the world's largest free trade zone by the number of participating countries, covering more than 1.2 billion people with a combined gross domestic product of 2.5 trillion U.S. dollars....
Malala also said that affected by the epidemic situation, the African continent Free Trade Zone, originally scheduled to start in July 2020, was postponed to January 1, 2021. However, most of the travel restrictions in African countries have been lifted, and the new crown vaccine program is pr...
The 55-member pan African bloc, AU, also lauded the AfCFTA for "laying the foundation" for what could be the world's largest free trade zone by the number of participating countries, covering more than 1.2 billion people with a combined gross domestic product of 2.5 trillion U.S. dollars....
The meeting comes after the African Continental Free Trade Area (AfCFTA) agreement received the key 22nd ratification in April. The ambition of the AfCFTA is to create the world’s largest free trade zone. “We strongly believe that the future is in Africa when it comes to trade but intra-...