02 Jan Ethiopia congratulates Africa for coordinating Free Trade Area
Ethiopia’s Prime Minister Abiy Ahmed on Saturday stressed the importance of the African Free Trade Area and congratulated the countries of the continent for using this instrument for their exports and imports.
‘Congratulations to our continent for the beginning (on January 1) of the economic actions under the Continental Free Trade Area (AFCFTA),’ Ahmed tweeted.
‘The new frontier for our countries is, in fact, regional integration, where minds are open to ideas and businesses must generate transformative impacts,’ he added. ‘Boosting trade in terms of respect and equal opportunity helps to defuse the tensest relationships, generates prosperity, revitalizes pan-Africanism and favors peace,’ he deemed.
In addition to calling it a milestone for the region, the Prime Minister considers it vital to change African economic conditions and relations.
The agreement establishing AFCFTA was signed in March 2018, in Kigali, Rwanda, and it entered into force in May 2019, after the conclusion of the main legal texts.
Except for Eritrea, the rest of the member states of the African Union signed it, 34 countries ratified it and 41 presented tariff offers to the president of the Commission of that organization, the Chadian politician and diplomat Moussa Faki Mahamat.
Creating a single market for goods and services, facilitating the movement of people, achieving monetary union, bolstering industrial development and attaining sustainable and inclusive socio-economic growth are some of its most ambitious goals.