Share
Fortune
The Largest Free Trade Deal in Nearly a Quarter-Century Seeks to Make Africa a Single Market
The U.S. ditched the Trans-Pacific Partnership, while across the Atlantic, the U.K. is trying to extract itself from the European Union and its single market.
But while free trade is under threat in much of the world, African countries are heading in the other direction: the continent is on track to create the largest free trade agreement by population that the world has seen since the 1995 creation of the World Trade Organization. That organization has 164 member countries.
On May 30, the African Continental Free Trade Area (AfCFTA) will become a reality. All but three of Africa’s 55 countries have signed up, creating a free trade area that covers more than a billion people and a collective GDP of over $2 trillion, and includes most of Africa’s largest economies, including South Africa and Egypt. If hold-outs Benin, Eritrea and Nigeria—Africa’s largest economy—join in, that’s a total of 1.2 billion people and $2.3 trillion in GDP.
By David Meyer | 25 May 2019
RELATED TOPICS:
Yoshinobu Yamamoto’s 6 Shutout Innings Help Dodgers Finish Sweep, Defeat Nats 2-1
2 hours ago
The 49ers Add Florida Receiver Ricky Pearsall With the 30th Draft Pick
2 hours ago
Political Stunt, Egg on His Face, Personal Vendetta. Who’s Fresno DA Talking About?
2 hours ago
LA Judge Deals a Blow to Law Allowing Duplexes in Single-Family Tracts
5 hours ago
US Announces New Patriot Missiles for Ukraine as Part of New $6 Billion Aid Package
5 hours ago
Andy Reid and Taylor Swift Agree: Fresno’s Xavier Worthy Is a Great 1st-Round Draft Pick
5 hours ago
Nuggets Close to Sweeping Lakers After Game 3 Win