Ethiopia is latest of Africa’s free trade agreement

February 4, 2019

Africa Continental Free Trade Agreement (AFCFTA) when the Council of Minister approved its candidacy to the platform on Saturday.

Twenty-two more African countries need to ratify the agreement in order to allow the platform to become operational.

Ethiopian Premier Abiy Ahmed said the country’s decision to ratify the agreement was consistent with his vision of “creating a closer and full regional integration, where minds are open to ideas and markets are open to trade”.

A statement from the Office of the Prime Minister on Saturday explained that “Ethiopia’s decision and track record of advocating Pan African causes will bring to reality an integrated Africa”.

AFCFTA is one of the biggest trade agreements in the world since the creation of the World Trade Organization (WTO).

Its principal concern is to create a single market in Africa and the largest trading bloc in the world,.

The deadline of December 20 was set aside for 30 African countries to ratify the agreement so that the African Union Commission can set the African Continental Free Trade Area (AFCTA) into action.

With Ethiopia’s membership, only 22 more African countries are needed to ratify the agreement for the platform to be officially floated.

africandailyvoice