The African free trade agreement has come into effect unlocking the movement of goods and services throughout the continent.
Whilst there are still many challenges and obstacles to overcome, it will potentially unlock a market of over 1.3 billion people with an estimated GDP of over US$2.6 -4 trillion.
The objectives of the agreement are to:
Initiative a single market, deepening economic integration of the continent.
Promote the movement of capital and people, encouraging investment.
Enhance competitiveness of member states within Africa and the global market.
Encourage Industrial development through diversification and regional value chain development, agricultural development and food security.
Eliminate import tariffs on 97% of goods traded on the continent.