Djibouti (Djibouti): The IGAD Secretariat congratulates the Government of Kenya for being one of the first countries to approve the framework establishing the African Continental Free Trade Area (AfCFTA) on 27th March 2018. The quick approval of the bill to ratify the AfCFTA demonstrates the strong political will of the Government and people of Kenya to strengthen inter-African linkages on trade through the elimination of trade barriers to foster a liberalised single continental market.
The AfCFTA framework was signed by 44 African countries, during the 10th Extraordinary Session of the Assembly of the African Union held on the 21st of March 2018 in Kigali, Rwanda with the express goal of creating a single continental market for goods, services and investments. The African Continental Free Trade Area which requires ratification by 22 countries before entering into force seeks to increase intra-African trade by 52%, leading to an increase in industrialisation, job growth, and economic diversification.
The IGAD Secretariat also welcomes the signature of the African Continental Free Trade Area by all Member States of IGAD (Djibouti, Ethiopia, Somalia, South Sudan, Sudan and Uganda) and will endeavour together with the African Union to work alongside its Members States to facilitate efforts to enhance free trade within its respective region and across the continent.
Source: Inter Governmental Authority on Development