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December 8, 2024 | 1 month ago

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African Free Trade Area: A salutary economic awakening

One of the world's largest, with over 1.2 billion consumers, Zlecaf is the flagship project of the African Union's Agenda 2063.

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The African Continental Free Trade Area (AfCFTA) is an ambitious framework designed to govern trade in goods and services, investment, intellectual property and competition between African countries. It promotes economic integration and aims to achieve inclusive, sustainable growth by facilitating trade and investment.


Kamel Moula, Chairman of the Algerian Economic Renewal Council (CREA), welcomed Algeria's participation in this initiative, which he sees as a strategic opportunity to strengthen cooperation with African partners. He stressed that expanding regional markets is crucial to support African producers and consumers while promoting continental economic integration.


Operating since January 1, 2021, ZLECAf offers a vast single market. However, to fully exploit its benefits, challenges such as administrative barriers, rules of origin and trade costs still need to be overcome. African companies must be ready to take advantage of these opportunities to realize the zone's ambitious goals.


December 8, 2024 | algeria-logo

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