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agreement entering into force at the end of the month, Africa is about to take a
major step forward in economic integration, and the continent should deepen its
participation in economic globalization.
In recent decades, Africa has been
considered one of the least integrated regions of the world in terms of trade,
and often singled out as an exception to the history of globalization.
Statistics show intra-African trade accounts
about 15% of the continent's trade and only 2% of trade
international trade.
The African Continental Free Trade Area
(AfCFTA) means a lot for the continent, which wants to strengthen its growth prospects.
He will remove the rights and knock down
non-tariff barriers such as poor infrastructure and inefficient border posts,
facilitate the movement of goods, talents and funds within the region and allow
business growth by linking the fragmented economies of the continent to a
integrated market of more than one billion potential customers.
It will also speed up the process of
urbanization as more and more investments are drawn to the continent in search of
economic benefits that can be offered by an integrated market.
This urban expansion, supported by a young
workforce and a growing workforce will contribute to rapid growth
consumption of households and businesses, ensuring greater sustainability and
diversified economic growth.
The AfCFTA agreement is timely.
the continent works in partnership with countries around the world, including China,
for common development.
China and Africa are now close
partners for cooperation in infrastructure and industrial capacity in the field of
framework of the Belt and Road Initiative.
Intra-African trade faces many challenges
partly because of the high cost of cross-border freight transportation.
The next few years will see China play a role
crucial role in helping to unlock the AfCFTA's commercial potential by badisting the
region fill the huge infrastructure gap in an affordable way.
The flourishing of the industry badisted by China
The parks in Africa will also see more products "made in Africa" enter more and more
in the global market.
Effective implementation of AfCFTA
agreement means a lot to the world. An integrated Africa will ensure better
position in the world trading system and contribute to the process of
globalization.
Recent years have been marked by growth
the wind against globalization, with narrow-minded politicians attacking
globalization to widen wealth gaps and unbalanced economic growth between
different countries and regions.
Becoming a fast-growing region in the
world in the coming years, progress in economic integration will continue
unleash the economic development potential of Africa and facilitate its progress
to prosperity.
An emerging market of this size
certainly help stimulate globalization.
GNA
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