AfCFTA: Djallab at 8th African ministers meeting in Addis Ababa

June 10th, 2019

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APS : Saturday, 08 June 2019

ALGIERS- Minister of Trade Said Djellab is taking part at the 8th African Union Ministers of Trade Meeting (AMOT), held on 7-8 June in Addis Ababa (Ethiopia), said Saturday a ministerial communiqué.
This meeting is part of the implementation of the roadmap for the completion of the unfinished works relating to the negotiations on the African Continental Free Trade Agreement (AfCFTA), in view of the holding of the extraordinary summit of the African Heads of State and Government, scheduled for July 7 in Niamey (Niger), in which the implementation phase of AfCFTA will be launched, said the source.
In Kigali Summit in March 2018, the African Union’s member States signatories of the Agreement on AfCFTA creation gave a strong signal for the strengthening of intra-African trading to create a single African market.
The African free trade zone offers a dynamic space made up of a market of more than 1.2 billion people representing about USD2,500 billion of cumulated GDP.
Trading in the region (imports and exports of goods and services) increased from about 53% to 67% of GDP between 1990 and 2017.
The implementation of AfCFTA will allow the development of the African countries’ economic transformation potential, boost intra-regional trade and attractiveness of foreign direct investments while facilitating the creation of regional value chains.