MAP - AU Extraordinary Summit on African Continental Free Trade Area Kicks Off in Kigali with Participation of Morocco

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MAP - AU Extraordinary Summit on African Continental Free Trade Area Kicks Off in Kigali with Participation of Morocco

Kigali - 21 march 2018 – (MAP)- The Extraordinary Summit of the African Union (AU) on the African Continental Free Trade Area (AfCFTA) opened on Wednesday in Kigali, with the participation of Morocco.

The Moroccan delegation to this summit is led by Head of Government, Saad Eddine El Othmani, and includes Minister of Foreign Affairs and International Cooperation, Nasser Bourita, Minister Delegate for African Cooperation Mohcine Jazouli, Secretary of State for Foreign Trade Rkia Derham and President of Moroccan employers' association (CGEM), Miriem Bensalah Chaqroun.
The Kigali Summit will be marked by the launch of the African Continental Free Trade Area (AfCFTA), which is a flagship project of Agenda 2063, the African Union’s long-term vision for an integrated, prosperous and peaceful Africa.
According to the AU, intra-Africa trade stands at about 16%, compared with 19% intra-regional trade in Latin America, 51% in Asia, 54% in North America and 70% in Europe. The United Nations Economic for Africa estimates that the AfCFTA has the potential to boost intra-Africa trade by 53% by eliminating import duties and non-tariff barriers. It could create an African market of over 1.2 billion people with a Gross Domestic Product (GDP) of $2.5 trillion.
Agency : MAP
Date : 2018-03-22 09:24:26

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