July 9, 2018

hISTORY eNDS EVERYWHERE:

Africa's Revolutionary New Free Trade Area Could Lift Millions out of Poverty (Alexander Hammond  , 7/08/18, FEE)

Being able to trade freely with one's neighbors is vital for economic growth. In 2016, just 18 percent of Africa's total exports were traded within the African continent. In Europe and Asia, intra-regional trade accounted for 69 percent and 59 percent of total exports respectively.

If adopted, the AfCFTA has the potential to revolutionize African trade and add billions to the continent's GDP.

Under the AfCFTA, the UN Economic Commission on Africa estimates, intra-African trade could increase 52.3 percent by 2022. It could double again, after the final 10 percent of tariffs are removed. If adopted, the AfCFTA has the potential to revolutionize African trade and add billions to the continent's GDP.

Quality of government could also improve through competition to create welcoming and stable business environments.

Posted by at July 9, 2018 8:40 PM

  

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