AFCFTA aims at deepening Africans market integration and significantly increasing the volume of trade that African countries undertake among themselves.
At current, trade between Africa stands at around 17 percent compared to 59 percent in Asia and 69 percent in Europe.
United Nations Economic Commission for Africa estimates that if AFCFTA is well implemented intra-regional trade could constitute up to 50 percent of exports by 2040, up from the current 17 percent.
54 of 55 states have signed the agreement. Ratification by 22 countries. While the AfCFTA’s ratification is a cause for celebration, much still need to be done to ensure it’s full implementation and effectiveness.