It is increasingly evident that leaving the European Union — the world’s richest single market — was a monumental act of self-harm for the UK. African countries should take heed and cooperate to ensure the success of the African Continental Free Trade Area.

Trade and investment relations with Africa are increasingly important to the European Union’s strategic goals

The AfCFTA is one of the flagship projects of Agenda 2063: The Africa We Want. It is a high ambition trade agreement, with a comprehensive scope that includes critical areas of Africa’s economy, such as digital trade and investment protection, amongst other areas.

What progress is Africa's free trade pact making in eliminating barriers to trade, deepening economic integration and driving forward the continent's development?

It’s the second year of business on Africa’s biggest trading platform – the African Continental Free Trade Area (AfCFTA) - and it isn’t going to be business as usual in the continent’s single biggest trading bloc.

The African Continental Free Trade Area (AfCFTA) was finally signed on the 5th of December 2020 by 54 out of 55 African Union member states, heralding the start of a new era of improved trade governance as intra-continental trade is boosted and African trade arrangements across regional economic communities are harmonised.

African leaders met on Sunday to launch a continental free-trade zone that if successful would unite 1.3 billion people, create a $3.4 trillion economic bloc and usher in a new era of development.

After months of delays caused by the COVID-19 pandemic, the African Continental Free Trade Area launches, but full implementation of the historic pact may take years.

AFRICAN countries officially began trading under a new continent-wide free trade area last Friday.

Rwandan president Paul Kagame says the African Union could become a strong body as the European Union despite well documented hurdles.

The African Continental Free Trade Area will enter into force during the next African Union Summit slated for Niamey, Niger, in July, the East African reported on Tuesday.

The African Continental Free Trade Area (AfCFTA) entered into force on May 30, 2019, with the first phase of the deal taking effect for 24 countries. An extraordinary summit on the trade agreement is planned for July 7, 2019 in Niamey, Niger, while Phase II negotiations on intellectual property rights (IPRs), investment and competition policy are expected to take at least another year.

There was spontaneous applause as Africa’s largest economy Nigeria signed up to a deal that experts say could provide far-reaching benefits, but only if it is implemented properly.

After four years of talks, African leaders announced an agreement to form a 55-nation trade bloc.

Following the unveiling of the African Continental Free Trade Agreement in Kigali, Rwanda, in March 2018, Africa is about to become the world’s largest free trade area: 55 countries merging into a single market of 1.2 billion people with a combined GDP of $2.5 trillion. In this edition, we examine the benefits and challenges of a free trade area for countries and individual traders.

The largest free-trade in the world, spanning the African continent with its 1.2 billion people, has come into effect, aiming to eradicate tariffs and create single market for a potential market worth $2.5 trillion.

Africa is trading - just not within the continent. The African Union wants to change this and launch the world's largest free trade area. The plan has potential, but some member states are keeping the AU in suspense.

On March 21, 2018, in Kigali, Rwanda, Africa took the giant step of creating a large and integrated market by establishing the African Continental Free Trade Area (AfCFTA)

The African Continental Free Trade Area (AfCFTA) has been signed by 44 African countries at a summit of the African Union in Kigali, Rwanda. / 10 of the African Union's (AU) 55 member states did not sign the agreement.

“It goes without saying that the most emblematic of the flagship projects of Agenda 2063 is the African Continental Free Trade Area, AfCFTA. The AfCFTA has the ambition…… in the final analysis, to establish a continental market. The idea goes back to 1963, with the establishment of an African Economic Community.”

But while free trade is under threat in much of the world, African countries are heading in the other direction: the continent is on track to create the largest free trade agreement by population that the world has seen since the 1995 creation of the World Trade Organization.

While debates about the unpredictability of economic and political relationships between the EU and Britain continue to linger, thousands of miles away, the African Union (AU) is creating a close-knit relationship among its own 55 member nations.

The African Continental Free Trade Area (AfCFTA) is one of the key priorities of Africa´s Agenda 2063 and a flagship project for the continent. Signed by 49 African countries and ratified by 14 countries so far, it needs 8 more ratifications to enter into force.