Ethiopia signs continental free trade agreement

Ethiopia has signed a trade agreement backed by the African Union (AU) that seeks to open up trade between African countries.

Addis Ababa signed the Africa Continental Free Trade Area (AfCFTA) agreement over the weekend. Currently, 17 countries have signed the agreement which was launched in Rwanda in March 2018.

“The decision is consistent with PM Abiy vision of creating a closer & full regional integration – where minds are open to ideal & markets are open to trade. Ethiopia’s decision & track record of advocating Pan African causes will bring to reality an integrated Africa,” a statement from the office of Ethiopia’s Prime Minister Abiy Ahmed reads.

AfCFTA seeks to establish an intra-African market where goods and services can be exchanged freely. The pact, which also aims to reduce tariffs, could be fully functional by 2022. […] CONTINUE READING