Ethiopian Parliament Ratifies Agreement to Establish AfCFTA

parlamaThe House of People’s Representatives ratified the agreement to establish the African Continental Free Trade Area (AfCFTA) today (March 21).

The AfCFTA aims to create a single continental market for goods and services, with free movement of business persons and investments, and pave the way for accelerating the establishment of the Continental Customs Union and expand intra African trade through better harmonization and coordination of trade liberalization and facilitation regimes and instruments.

It will also expedite the regional and continental integration processes, as well as enhance competitiveness at the industry and enterprise level through exploiting opportunities for scale production, continental market access and better reallocation of resources.