The Continental Free Trade deal has the potential to create the largest free-trade area in the world-uniting 55 African countries with a combined gross domestic product (GDP) of more than $3.5 trillion. It is a major force for continental integration and expansion of intra African trade, currently estimated at about 16%.
The trade agreement is expected to expand intra African trade by up to $35 billion per year, ease movement of goods, services and people across the continent's borders and cut imports by $10 billion, boosting agriculture and industrial exports by 7% and 5% respectively.
Launch Date: January 01, 2021
Instruments of Ratification
34 countries have so far deposited their instruments of ratification with the African Union Commission (AUC).