Egypt 24/04/2019

Intra-African trade will increase by 52% by 2022

 

According to the United Nations, the African Free Trade Area (CFTA), which represents the largest trade bloc since the creation of the WTO (World Trade Organization), will significantly expand trade in the years to come.


In Egypt, planning minister Hala el-Saeed revealed that the country had invested $ 1.2 billion in Africa in 2018. This cooperation among African countries encourages infrastructure projects to boost trade. Achievements are expected to generate $ 12 trillion worth of business opportunities, particularly in construction, food and agriculture.


The minister recalled the importance of the African Free Trade Area (CFTA), which represents the largest trade bloc in terms of the number of countries involved since the creation of the WTO (World Trade Organization) and which aims at the free exchange of products within the continent.


"The United Nations believes that the free trade area will increase intra-African trade by 52% by 2022 and pave the way for the establishment of a customs union four years later and then an economic group by 2028 "said the minister.

source : egypttoday.com