The African Continental Free Trade Area (AfCFTA) is a free trade area founded in 2018, with trade commencing January 1, 2021.
It was created by the African Continental Free Trade Agreement among 54 of the 55 African Union nations as a flagship project of the African Union’s Agenda 2063.
AfCFTA creates a market of 1.2 billion people with a combined GDP of $3 trillion.
Trading under the AfCFTA started on Friday, January 1, 2021, in Africa, making it the world’s largest free trade area in terms of participating member states after the formation of the World Trade Organization (WTO).
The AfCFTA Agreement have great economic, trade as well as social advantages for Africa if the African continent advances in infrastructure connectivity.
The secretariat is located in Accra, Ghana.
Source: graphic.com.gh
