AU Summit African Leaders Agree on Continental Free Trade Area Timeline
African heads of state meeting in Addis Ababa have agreed on a revised implementation timeline for the African Continental Free Trade Area, with full operationalisation of the pref...
African heads of state meeting in Addis Ababa have agreed on a revised implementation timeline for the African Continental Free Trade Area, with full operationalisation of the preferential tariff regime now scheduled for 2027.
The summit communique, adopted by consensus after two days of negotiations, also established a new dispute resolution mechanism and a dedicated financing facility for small businesses.
African Union Commission Chairperson Moussa Faki Mahamat described the outcome as a concrete demonstration of African solidarity and economic ambition.
Trade economists estimate that full implementation of the AfCFTA could add $450 billion to Africa’s collective GDP by 2035 and lift 30 million people out of poverty.
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