[ad_1]
The Ethiopian Council of Ministers on Saturday approved the country's accession to the African Free Trade Agreement (AFCFTA), which aims to create the world's largest common market.
More than 40 African countries signed a historic trade agreement in March 2018, with the aim of allowing free cross-border trade on the continent.
The AfCFTA agreement should create a market for more than one billion people, with a GDP of around 2.6 trillion US dollars.
The decision to create the AfCFTA was taken at the 18th Ordinary Session of the Conference of African Union Heads of State and Government in January 2012, with a tentative launch date for 2017 .
The Office of the Prime Minister of Ethiopia has announced the approval of the country's accession to AfCFTA, saying the common market would strengthen regional integration.
"The decision is in line with Prime Minister Abiy's vision of creating a closer and fuller regional integration, where minds are open to ideas and mkts are open to trade. Ethiopia's decision and its pan-African advocacy track record will help realize an integrated Africa, "said the Prime Minister's Office.
The Council of Ministers today approved Ethiopia's accession to the Free Trade Agreement for the African continent. the #AfCTA– One of the most important trade agreements since the creation of the WTO – is trying to create a single market in Africa. pic.twitter.com/mmAo9rLY5z
– Prime Minister's Office – Ethiopia (@PMEthiopia) February 2, 2019
[ad_2]
Source link
