2018 in review: Looking back, looking forward
China Daily |
Updated: 2019-01-04 10:00
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Africa looks to free trade
A total of 49 of the African Union's 55 member states have signed the African Continental Free Trade Area agreement. Thirteen countries have ratified the agreement, while 12 others are in advanced stages of obtaining parliamentary approval, according to the AU.
The free trade agreement was first signed in March this year by 44 countries that pledged to boost intra-African trade by removing trade barriers, increasing investments in industrialization and infrastructure expansion and consequently creating jobs for the world's fastest growing labor force.
The agreement, if realized, will create the world's biggest trading bloc－1.2 billion people with a GDP of over $3 trillion.
