AfCFTA: The historic trade agreement launches today

Muhammadu Buhari, and other African leaders will be launching the African Continental Free Trade Area (AfCFTA) today, July 7. The launch will take place at the 35th Ordinary Session of the Executive Committee of the Meeting of the African Union at the Palais des Congres in Niamey, the Nigerien capital.

The landmark free trade agreement is expected to progressively eliminate tariffs among African Union members, creating the world’s largest free-trade area since the formation of the World Trade Organization. Also, other issues such as looming security and migration crises on the continent will be addressed.AfCFTA: African leaders set to sign landmark trade deal at AU Summit

The AFCTA is expected to bring together 55 countries into even though 23 countries have signed so far, with Nigeria, Eritrea, and Benin.

However, just like Nigeria, Benin has agreed to sign With the latest development, Eritrea becomes the loner yet to sign up to the deal.

The AU’s Commissioner for Trade and Industry Albert Muchanga, on Friday, disclosed that Benin had also declared that it will sign up on the same day that Nigeria does.

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