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African Continental Free Trade Area
African Continental Free Trade Area Agreement
The AfCFTA creates a single continental market for goods and services, aiming to eliminate tariffs on 90% of goods, boost intra-African trade by 52%, and lift 30 million people out of extreme poverty.
Agreement Details
Typemultilateral
SignedMar 21, 2018
EffectiveMay 30, 2019
StatusActive
Key Benefits
- Duty-free access to 54 African countries
- Market of 1.4 billion people
- Elimination of tariffs on 90% of goods
- Harmonised rules of origin for African products
- Dispute resolution mechanism
- Special treatment for Kenyan SMEs and women-owned businesses
Sectors Covered
Agriculture
Manufacturing
Textiles & Apparel
Automotive
Pharmaceuticals
Digital Services
Financial Services
Transport & Logistics