Explainer
The AfCFTA is the world’s largest free trade area. It unites the 55 countries of the African Union (AU) and eight (8) Regional Economic Communities (RECs) to create a single market for the continent. The AfCFTA was approved by the 18th ordinary Session of Assembly of Heads of State and Government in January 2012. During the Session, the Assembly also established an Action Plan for boosting intra-African trade. The AfCFTA and the Action Plan are key initiatives promoting socio-economic development.
Driven by industrialisation, the AfCFTA came into being in a global economy that has been focusing more and more on sustainability. Adopting sustainable methods for trade could provide Africa with a competitive advantage. Learn more about the potential for harmonising trade and climate goals under AfCFTA here.