African Continental Free Trade Area

In 2018, over 50 African countries signed the African Continental Free Trade Area, which aims to accelerate economic integration in Africa and increase trade within the continent. In 2016, intra-Africa trade grew to 16 per cent of Africa’s trade. This is higher than the 10 per cent share of intra-Africa trade in 2008 but overall, African countries are less integrated in terms of trade and finance than other developing economies. The World Bank believes that the African Continental Free Trade Area agreement has the potential to boost per capita incomes and lift 25 million people out of extreme poverty.

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