African Free Trade Area Expected to Lift Millions out of Extreme Poverty and Boost Growth
By Busani Bafana
BULAWAYO, Zimbabwe (IDN) — The long-awaited African Continental Free Trade Area (AfCFTA)—set to be the world’s biggest free-trade zone by size—which entered into force on January 1, 2021, promises a new era for African trade.
An Africa-wide free-trade pact could bolster the region’s income by $450 billion and lift 30 million people out of extreme poverty by 2035, if accompanied by significant policy reforms and trade-facilitation measures, according to the World Bank. When fully operational, the Free Trade area will create a market of 1.2 billion and drive a combined GDP of $2.5 trillion. (P02) GERMAN | JAPANESE TEXT VERSION PDF | SWAHILI…