By Staff Writer
Addis Ababa - AFRICAN countries are set to adopt the continental free trade agreement (CFTA) in March to create a single market and facilitate the free movement of goods, African Union (AU) Commission chairperson, Moussa Faki Mahamat said.
The CFTA idea was first mooted in 2012 to facilitate the free movement of goods, services and people across the continent.
“Following the 4th meeting of the African Ministers of Trade, held in Niamey in December 2017, it is envisaged that the CFTA agreement and other related documents would be adopted in March 2018.
“The CFTA, which is a flagship project of Agenda 2063, will create a market of over 1.2 billion people,” Mahamat said in a document detailing AU’s 2018 message to the continent.
The CFTA is an ambitious project that will connect more than 1 billion people to a variety of cross-continental goods and services through enhanced trade facilitation and greater movement of people and investments.
Mahamat said regional integration remains a top priority for the AU.
“Its establishment will significantly increase intra-African trade, create economies of scale and regional value chains, and augment job opportunities.
“In parallel, a legal framework for the management of migration and mobility — the Protocol to the Treaty Estabilishing the African Economic Community Relating to the Free Movement of Persons, Right of Residence and Right of Establishment has been elaborated. It is due for adoption by the African Union Summit of January 2018.”
